In the years after Fukushima this seemed impossible but what has become increasingly obvious (and something I've been writing for a decade), is that nuclear is the only path to clean, abundant and reliable electricity. The technology is tested and it just needed the right advocates.
Germany closing its reactors was the bottom and now there has been a rapid turnaround, including a huge US announcement today as the US government entered into an $80 billion partnership with Westinghouse Electric Company to build ten large nuclear reactors across the country, marking one of the largest single commitments to nuclear energy in American history.
The goal ois having all ten under construction by 2030 using Westinghouse’s AP1000 design, a Generation III+ pressurized water reactor that has already been licensed and deployed internationally.
Westinghouse is owned by Brookfield Renewable Partners and Cameco, with Brookfield holding a 10 percent equity stake. Both are Canadian companies that have seen their shares rise by 20.2% and 3%, respectively.
According to reports, the agreement includes provisions allowing the US government to obtain a 20% stake in Westinghouse once the company has distributed more than $17.5 billion to its private shareholders.
Officials described the program as a cornerstone of the administration’s industrial policy, designed to ensure a stable electricity supply for strategic industries such as artificial intelligence, defense manufacturing, and critical-minerals processing.
“Our administration is focused on ensuring the rapid development, deployment, and use of advanced nuclear technologies," said Commerce Secretary Howard Lutnick in the release. "This historic partnership supports our national security objectives and enhances our critical infrastructure. Together with Westinghouse we will unleash American energy. This partnership embodies the bold vision of President Trump – to rebuild our energy sovereignty, create high-paying jobs, and drive America to the forefront of the nuclear renaissance.”
This is a sign that the US is all-in on power development at the urging of Silicon Valley and the AI industry. It's a winning move and a massive investment theme that can continue to run.
