The US government and the owners of Westinghouse, Brookfield Asset Management and Cameco, have struck an $80 billion deal to build a fleet of nuclear reactors, using funding from a trade agreement with Japan.
They had formed a new partnership to provide the reactor technology for the plants, which would help reach the US goal to quadruple US nuclear capacity to 400 Gigawatts by 2050.
they will build eight Westinghouse AP1000 power plants or a mix of larger facilities and small modular reactors.
If the US spends the full $80bn on Westinghouse reactors, it would hold rights to 20 per cent of Westinghouse profits once it distributes $17.5bn to its current owners.
The US government can also require Westinghouse to go public if its value exceeds $30 billion by 2029 and then convert its profit share into an equity stake in the company of up to 20 per cent.
Senator Schumer sees US shutdown stretching into November
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