US to offer $17.5B in loans for nuclear reactor orders
The United States Department of Energy will provide $17.5 billion worth of low-interest loans to utility companies seeking to order a Westinghouse nuclear reactor, the Wall Street Journal reported on Tuesday. The funds will support five projects, each yielding two reactors, the department said, adding that seven utilities have signed formal letters of intent, AzerNEWS reports.
Energy Secretary Chris Wright said the loans will help accelerate construction by up to three years, while lowering costs. Meanwhile, Westinghouse Electric CEO Dan Sumner told the newspaper that the AP1000 reactors are expected to be operational from 2035 and "kick-start fleet-scale nuclear development" in the US.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!