The U.S. Department of Energy has conditionally committed $17.5 billion in loan facilities to support the construction of up to 10 Westinghouse AP1000 nuclear reactors across the United States, marking one of the largest federal backstops for large-scale nuclear power in a generation. Brookfield Asset Management, which co-owns Westinghouse, disclosed the commitment on June 23, 2026.
What the Loans Cover
The financing, issued through the DOE's Office of Energy Dominance Financing, is structured as American Supply Chain Loans designed to fund the long-lead equipment needed to build the reactors. The agency expects to make up to five loans, with each facility supporting two reactors. By financing components such as heavy forgings and reactor vessels early, the program aims to accelerate construction and commercial operation of the plants by up to three years, with a goal of having 10 reactors under construction by 2030.
Reviving a Domestic Supply Chain
Westinghouse, jointly owned by Brookfield and its institutional partners (51%) and Cameco Corporation (49%), said the package is intended to rebuild a domestic nuclear supply chain that has atrophied since the last wave of U.S. reactor construction. The loan facilities serve as a catalyst for nuclear, providing the certainty needed to enhance the domestic nuclear supply chain, said Brookfield CEO Connor Teskey. The AP1000 is a Generation III+ pressurized water reactor with passive safety systems and a net output of roughly 1,100 megawatts; the most recent U.S. units entered service at Georgia's Vogtle plant.
Strings Attached
The commitment is conditional. Westinghouse, its owners, and utility partners must satisfy technical, legal, environmental, and financial conditions before the DOE signs definitive financing documents and disburses funds. The structure relies on a Westinghouse special purpose vehicle and multiple project funding vehicles, each requiring about $1 billion in upfront equity before federal money is drawn. The anticipated reactor owners are expected to be utilities and energy companies that purchase the long-lead items.
A Crowded Nuclear Push
The deal lands amid a surge of U.S. nuclear activity spanning both large reactors and small modular reactors. Recent moves include Elementl Power's BWRX-300 SMR plan in Ohio, the DOE's light-water SMR awards to TVA and Holtec, and the licensing of BWXT's mPower SMR by Applied Atomics. Internationally, utilities such as Vattenfall in Sweden are advancing their own reactor programs. The Westinghouse package signals that Washington is willing to put balance-sheet weight behind gigawatt-scale baseload to meet rising electricity demand from data centers and electrification.
Reporting based on coverage from Brookfield Asset Management (GlobeNewswire), the U.S. Department of Energy, and the American Nuclear Society.