Overview
- The Department of Commerce and Westinghouse’s owners, Brookfield and Cameco, announced a plan to deploy at least $80 billion in new reactors using the AP1000 design.
- The administration says it will help arrange financing and facilitate permitting, with loan guarantees reported as possible elements still under discussion.
- The term sheet grants the government 20% of Westinghouse cash distributions above $17.5 billion once the $80 billion threshold is met, plus a potential 20% warrant if an IPO tops $30 billion by January 2029.
- Companies cite tens of thousands of jobs, including more than 100,000 tied to construction, and position the buildout to serve grid demand from data centers and critical infrastructure.
- Shares moved on the news, with Cameco up about 18% and Brookfield up roughly 2.9%, as parties emphasized that definitive agreements, siting and project‑level financing are still to be finalized.