Energy Department seeks rapid expansion of reactors amid AI-driven electricity needs and major private-sector investment
The U.S. Energy Department announced that most of its lending authority will be directed toward new nuclear power projects, to accelerate reactor construction as national electricity demand rises.
“We have significant lending authority at the loan program office,” said Energy Secretary Chris Wright, at a conference hosted by the American Nuclear Society in Washington, D.C. “By far the biggest use of those dollars will be for nuclear power plants — to get those first plants built.”
An executive order from President Trump calls for breaking ground on ten large reactors by 2030, and the department expects private investors to commit substantial capital that could be paired with federal low-cost loans. Secretary Wright said he hopes to see numerous sites under construction by the end of the administration’s term.
The administration recently reached an agreement with Westinghouse’s owners to support up to $80 billion in nuclear development across the country. Officials say federal financing tools could help support reactor deployment.
As the Lord Leads, Pray with Us…
- For President Trump as he seeks to develop and increase the nation’s power sources.
- For Secretary Wright to be discerning as he oversees the financing of nuclear power projects.
Sources: CNBC, Department of Energy
