The Trump administration provides $17.5 billion in loans to support the construction of Westinghouse Electric's reactor equipment

The Trump administration will provide $17.5 billion in loans to support utility companies in ordering reactor equipment designed by Westinghouse Electric Company. The US Department of Energy announced on Tuesday that the funding will be provided on a conditional basis to utility companies and other energy companies building reactors. Westinghouse Electric Company has signed letters of intent with seven potential partners, and the construction sites for all related projects have been determined. President Trump sees nuclear reactors as the core source of electricity for data centers and economic growth, and has set a goal of having 10 large traditional nuclear reactors under construction in the United States by 2030, as well as increasing the national nuclear power installed capacity to 400 gigawatts.