The US Government and Westinghouse announce an $80 billion nuclear reactor deal
The US government and Westinghouse have signed an $80 billion (€68 billion) agreement to build a new fleet of nuclear reactors across the country, part of Washington’s plan to quadruple nuclear capacity by 2050.
Brookfield Asset Management, owner of Westinghouse, said on 28 October that it had formed a partnership with Cameco, the Canadian uranium company, and the US government to construct the new facilities. Brookfield said the partnership will accelerate nuclear power and artificial intelligence deployment in line with President Donald Trump’s May 2025 executive orders fast-tracking new reactor projects.
Brookfield Asset Management, Cameco and the US Government have formed a partnership to accelerate the deployment of nuclear power and artificial intelligence
Trump directed the industry to build both large and small reactors to reach 400 GW of capacity by 2050, up from about 96 GW today. “These new reactors will reinvigorate the nuclear power industrial base,” Brookfield said, adding that nuclear energy would become a central pillar of America’s global leadership in both nuclear and AI development.
The investment will fund about eight new Westinghouse AP1000 plants—or a combination of larger and small modular reactors (SMRs). While no timeframe or financing structure was disclosed, Brookfield said the deal includes profit-sharing mechanisms allowing all parties, “including the American people,” to benefit from Westinghouse’s long-term value creation once certain thresholds are reached.
The investment will support about eight new Westinghouse AP1000 or small modular reactors, creating tens of thousands of manufacturing and construction jobs across the United States
Each two-unit AP1000 project is expected to create or sustain 45,000 manufacturing and engineering jobs in 43 states, while nationwide deployment could generate over 100,000 construction jobs. Brookfield said the program will reinforce the US position as a nuclear powerhouse and boost exports of Westinghouse technology globally.
Brookfield and Cameco partnered to acquire Westinghouse in October 2022, after Brookfield’s initial 2018 acquisition and turnaround of the company. Brookfield holds a 51% stake in Westinghouse, while Cameco owns the remaining 49%.
The program will strengthen the US position as a global nuclear powerhouse and expand Westinghouse’s technology exports worldwide
