Brookfield/Cameco-owned Westinghouse secures US nuclear construction deal

Westinghouse Electric, a nuclear power firm owned by Brookfield Asset Management and Cameco Corporation, has partnered with the US government as part of an agreement which could lead to the construction of at least $80bn (€68.6bn) worth of nuclear reactors.

The agreement, established by the US government, under the president’s 23 May 2025 executive orders, to accelerate the deployment of nuclear power, involves the construction of new reactors across the US utilising Westinghouse nuclear reactor technology.

Westinghouse owns the AP1000 reactor, the most advanced reactor commercially available.

Howard Lutnick, secretary for the US Department of Commerce, said: “This historic partnership supports our national security objectives and enhances our critical infrastructure. Together with Westinghouse we will unleash American energy. This partnership embodies the bold vision of President Trump – to rebuild our energy sovereignty, create high-paying jobs, and drive America to the forefront of the nuclear renaissance.”

Chris Wright, secretary for the US Department of Energy, said: “This historic partnership with America’s leading nuclear company will help unleash President Trump’s grand vision to fully energise America and win the global AI race. President Trump promised a renaissance of nuclear power, and now he is delivering.”

Connor Teskey, president of Brookfield Asset Management, said:  “This partnership with the US government will help unlock the potential that Westinghouse and nuclear energy can play to accelerate the growth of artificial intelligence in the US, while meeting growing electricity demand and energy security needs at scale.

“Brookfield has more than half a trillion dollars invested in the critical infrastructure that underpins the US economy, and we expect to double that investment in the next decade as we deliver on building the infrastructure backbone of artificial intelligence.” 

Tim Gitzel, CEO of Cameco, said: “Our highly successful partnership with Brookfield as owners of Westinghouse will be further strengthened through this collaboration with the US government.

“We expect this new partnership to support the global growth opportunities for both Westinghouse’s and Cameco’s nuclear products, services and technologies, adding significant long-term value for our stakeholders and enhancing energy, national and climate security around the world.

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