Nuclear power will get the most Energy Department loans, Chris Wright says

Group 1: Nuclear Power Investment - The U.S. Energy Department's loan office will primarily fund nuclear power projects as the Trump administration aims to expedite the construction of new reactors [1] - An executive order signed by President Trump mandates the U.S. to initiate the construction of 10 large nuclear reactors by 2030 [1] - Major tech companies like Alphabet, Amazon, Meta Platforms, and Microsoft are investing billions to revitalize old nuclear plants and develop new reactor technologies to meet the electricity demands of AI data centers [1][2] Group 2: Financial Aspects - The Energy Department anticipates that electricity demand from AI will attract billions in equity capital for new nuclear capacity, with potential matching of private investments by up to four times through low-cost debt financing [2] - A recent deal with Westinghouse involves an investment of $80 billion to construct nuclear plants across the U.S., with Westinghouse's AP1000 reactor design capable of powering over 750,000 homes [3][4] Group 3: Westinghouse and Project Challenges - Westinghouse, owned by Cameco and Brookfield Asset Management, has faced challenges in the past, including bankruptcy in 2017 due to cost overruns on major projects [5] - The AP1000 reactors at Plant Vogtle in Georgia are entering service in 2023 and 2024, significantly behind schedule and over budget [5]