Cameco welcomed a $17.5 billion conditional loan commitment from the U.S. Department of Energy (DOE). The financing aims to accelerate the deployment of Westinghouse AP1000 nuclear reactors.
The funds will facilitate the purchase of long-lead items for up to 10 new reactors. This initiative could reduce project timelines by as much as three years.
The DOE’s Office of Energy Dominance Financing will administer the American Nuclear Supply Chain Loans program. The initiative supports a national goal to have 10 large-scale reactors under construction by 2030.
Cameco co-owns Westinghouse alongside Brookfield Renewable Partners. The company anticipates significant growth opportunities from the expansion of U.S. nuclear power.