Westinghouse strikes $80B deal with U.S. for nuclear reactors

Westinghouse Electric Co. announced Tuesday an $80 billion deal with the U.S. government to build nuclear reactors.

It’s the latest push from the Trump administration to boost power production as artificial intelligence supercharges electricity demand, and yet another entry into the government’s growing portfolio of private-public partnerships.

“This historic partnership with America’s leading nuclear company will help unleash President (Donald) Trump’s grand vision to fully energize America and win the global AI race,” Energy Secretary Chris Wright said in a statement.

The agreement, announced Tuesday, also involves uranium producer Cameco Corp. and investment firm Brookfield Asset Management. The companies jointly own Westinghouse, which is based in Cranberry.

Under the deal, the U.S. Department of Commerce will arrange financing and facilitate permitting for new AP1000 Westinghouse nuclear reactors, according to the companies.

Once Westinghouse clears $80 billion in orders, it can pocket $17.5 billion, the companies said; after that, the government would get 20% of any “cash distributions.”

The Trump administration has made similar moves to forge public-private links, such as taking a 10% stake in Intel, a 15% stake in rare earth minerals miner MP Materials and a so-called golden share in Pittsburgh-based U.S. Steel, allowing government officials to veto key business decisions.

The AP1000 model, an innovative design, has been plagued by cost overruns and delays that have long tormented the industry.

The only two of these reactors in the U.S., in Georgia, went online in 2023 and 2024. They cost $35 billion — $21 billion over budget — and years behind schedule.

Globally, Westinghouse has four more AP1000 units in operations, with 14 more being constructed. Another five are under contract.

During a July business summit at Carnegie Mellon University organized by U.S. Sen. Dave McCormick, R-Pittsburgh, Westinghouse pledged to install 10 AP1000 reactors across the country by 2030.

It’s not immediately clear how the deal relates to this prior announcement.

A fact sheet released Tuesday by the White House says Japan will invest $332 billion in critical energy infrastructure in the U.S., including AP1000 reactors and small modular reactors.