Reviving America's Nuclear Dream: A New Wave of U.S. Reactors
The U.S. Energy Department plans to lend to the first five to ten new nuclear reactors. An executive order by President Trump aims for ten reactors under construction by 2030. Despite past delays and cost overruns, the department is committed to expanding nuclear power with its significant loan resources.
The U.S. Energy Department is poised to back a new wave of nuclear reactors with loans, according to Energy Secretary Chris Wright. This initiative aligns with an executive order from former President Donald Trump, aiming to have ten large nuclear reactors under construction by 2030.
As of now, there are no approved plans for new large reactors, despite recent ones at Georgia's Vogtle site facing significant delays and cost overruns. These projects, completed between 2023 and 2024, exceeded their budget by $17 billion, even with substantial loans from the energy department.
Nonetheless, the department's Office of Energy Dominance Financing, with nearly $290 billion available, views nuclear power as a key focus. Wright affirmed last year that nuclear plants will receive the lion's share of these loans.
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