DOE commits $17.5B loan to finance long‑lead equipment for Westinghouse AP1000 nuclear reactors
Type: Financing · Technology: Nuclear · Country: United States · Capacity: 11 GW · Value: $17.5B · Announced: 2026-06-23
On June 23 2026, the U.S. Department of Energy issued a conditional loan commitment of up to $17.5 billion to finance long‑lead equipment for Westinghouse’s AP1000 nuclear reactors. The financing supports a fleet of ten new large‑scale reactors, each rated at about 1.1 GW, delivering roughly 11 GW of additional capacity to the U.S. grid. Westinghouse and its utility partners must each provide $500 million in equity, representing a $1 billion upfront investment per two‑reactor site. The loan is structured as up to five separate loans, each backing a two‑reactor project, and is intended to shorten construction schedules by up to three years through bulk equipment purchases. The program aligns with federal goals to expand baseload generation for AI, data centers, and domestic manufacturing, and follows an executive order to have ten reactors under construction by 2030.
Counterparties
- U.S. Department of Energy (Lender)
- Westinghouse (Borrower)