The first five or 10 new planned U.S. nuclear reactors will "almost certainly" receive loans from the U.S. Energy Department's lending office, U.S. Energy Secretary Chris Wright told lawmakers in a hearing Thursday.
President Donald Trump signed an executive order last year calling for 10 new large nuclear reactors to be under construction by 2030 and for the Nuclear Regulatory Commission to speed reactor approvals.
There are currently no approved plans to build new large reactors.
The last U.S. reactors that came online in 2023 and 2024, built at Georgia's Vogtle site, were delayed by about seven years and cost about $17 billion more than budgeted, despite securing billions in loans from the energy department's loan office during Trump's first administration.
The energy department's Office of Energy Dominance Financing has nearly $290 billion to loan and Wright said last year that "by far the biggest use of those dollars will be for nuclear power plants."
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