Loan & DebtJun 23, 2026, 10:24 AM
Brookfield's Westinghouse Secures $17.5B DOE Loan for Nuclear
AI Summary
Brookfield Asset Management announced that its jointly owned subsidiary, Westinghouse Electric Company, has secured a conditional commitment for $17.5 billion in loan facilities from the U.S. Department of Energy. These "American Supply Chain Loans" are intended to finance long-lead equipment for up to 10 Westinghouse AP1000 nuclear reactors in the United States. The financing aims to accelerate construction and commercial operations by up to three years, with a goal of 10 reactors under construction by 2030, enhancing the domestic nuclear supply chain and energy security.
Key Highlights
- U.S. Department of Energy conditionally committed $17.5 billion in loan facilities.
- Loans are for Westinghouse Electric Company, jointly owned by Brookfield (51%).
- Funding will finance long-lead equipment for up to 10 AP1000 nuclear reactors in the U.S.
- Aims to accelerate construction and commercial operations by up to three years.
- Goal is to have 10 reactors under construction by 2030.
- DOE expects to make up to five loans, each supporting two reactors.
Price Impact
More from BAM