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No specific construction timeline was provided.
The reactors will be built using Westinghouse technology and are expected to support the expansion of artificial intelligence (AI) capabilities, according to the statement.
"Partnering with America's leading nuclear company marks a historic step toward fulfilling President Donald Trump's vision for a comprehensive energy supply for the U.S. and securing leadership in the global AI race," said the Secretary of Energy Chris Wright. "President Trump pledged a nuclear energy renaissance, and we are now making that vision a reality."
The agreement includes a profit-sharing arrangement. Additionally, the government may require Westinghouse to go public if certain conditions are met, such as the completion of its acquisition of a stake in the company and if its valuation reaches or exceeds $30 billion by January 2029.
In 2023, Cameco and Brookfield Renewable Partners completed the purchase of Westinghouse at a valuation of $7.9 billion, including debt. In 2018, Brookfield Business Partners had acquired the company from Toshiba through bankruptcy proceedings for $4.6 billion.
source: cnn.com
The reactors will be built using Westinghouse technology and are expected to support the expansion of artificial intelligence (AI) capabilities, according to the statement.
"Partnering with America's leading nuclear company marks a historic step toward fulfilling President Donald Trump's vision for a comprehensive energy supply for the U.S. and securing leadership in the global AI race," said the Secretary of Energy Chris Wright. "President Trump pledged a nuclear energy renaissance, and we are now making that vision a reality."
The agreement includes a profit-sharing arrangement. Additionally, the government may require Westinghouse to go public if certain conditions are met, such as the completion of its acquisition of a stake in the company and if its valuation reaches or exceeds $30 billion by January 2029.
In 2023, Cameco and Brookfield Renewable Partners completed the purchase of Westinghouse at a valuation of $7.9 billion, including debt. In 2018, Brookfield Business Partners had acquired the company from Toshiba through bankruptcy proceedings for $4.6 billion.
source: cnn.com
