The Vogel Nuclear Power Plant is located in Burke County, Waynesboro, Georgia, in the United States. The two existing units each have a Westinghouse Purified Water Reactor (PWR), a common electric turbine and an electric generator, producing approximately 2,400 MW of electricity. Two Westinghouse-designed AP 1000 reactors were built here.
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Planning that the Trump administration has spent tens of billions of dollars Westinghouse The nuclear facilities could make it an independent, publicly traded company with the US government as a major shareholder.
Trade department The deal was made last week with Westinghouse owners Cameco again Brookfield Asset Management Spending $80 billion to build the company’s nuclear facilities from the US
Under the deal, the US government could offer Westinghouse’s stake in January 2029 or earlier if the company is valued at $30 billion or more.
The government could become an 8% shareholder in Westinghouse under that scenario, Cameco Chief Operating Officer Isaac Isaac said on Wednesday. He is not eligible to participate in Cameco or Brookfield, Isaac said.
Cameco is considering spinning off Westinghouse as an independent company in 2029, the executive said.
“Obviously, Westing House has a special investment interest,” Isaac said. “Cameco is a funny proxy for that. Brookfield is perhaps even just an interesting proxy for investing in Westinghouse.”
Cameco is one of the world’s largest uranium miners and Brookfield is one of the largest energy investors.
“We’re keeping all options on the table,” Isaac said. “This partnership agreement does not force us to stay in 2029. We will not be forced to sell in 2029.
US government funding
The government’s interest in Westingun, if we have a total cost of 80 bln.
The U.S. could use tools such as the Department of Energy Loans or “other jurisdictions” to finance options other than “other jurisdictions,” the IAAC said.
“We are very interested in investing that minimum $80 billion to start the process,” the executive said.
Westinghouse has developed a state-of-the-art nuclear reactor called the AP1000, which the Trump administration wants to introduce to the U.S. data centers and manufacturing demand across the U.S. It produces electricity, enough power to power more than 750,000 homes.
President Donald Trump called in May to start us on 10 major new nuclear reactors by 2030. Dan Sumner, the company’s CEO in Battinghoe, said in July Check out Trump’s call.
But Westing struggled to deliver the AP1000 on time and on budget. It ran into cost overruns in 2017 at major nuclear projects in Georgia and South Carolina.
The first two AP1000 reactors in the U.S. will be at the Georgia plant in 2023 and 2024, but the South Carolina project has been canceled.
Westinghouse bought Brookfield and Cameco in 2023, five years after it filed for bankruptcy. Brookfield has a 51% interest in Westinghouse and Cameco, 49% of which.
The nuclear industry needs a larger order of reactors to stimulate the market and supply chain, ISAAC said. The US government serves this role, the executive said.
“What did the US government do?”