US Energy Department allocates $17.5 billion for ten large nuclear reactors

The U.S. Department of Energy announced a $17.5 billion package of credit facilities to accelerate the construction of ten large‑scale nuclear reactors. All plants will use Westinghouse’s AP1000 design, each rated at about 1.1 GW, and the financing is meant to cut construction time by up to three years and lower costs.

The federal loans will be routed through five special‑purpose vehicles, with each requiring roughly $1 billion in private equity, bringing total private capital to about $5 billion. The credit is intended for purchasing long‑lead‑time nuclear components rather than direct construction funding. Seven utilities and energy companies have signed letters of intent, and the department expects to select five sites—two reactors per site—by the end of the year, aiming for all projects to start construction by 2030 and begin operating in the mid‑2030s.

Energy Secretary Chris Wright said, “This is the start,” adding that the program is “very, very low risk to the American taxpayers.” The push aligns with the administration’s goal to quadruple domestic nuclear output and addresses rising electricity demand from data centers and AI‑driven computing farms.