Cameco And Brookfield Positioned To Lead New Jersey's $24 Billion Nuclear Build Out
ZeroHedge ·
Cameco And Brookfield Positioned To Lead New Jersey's $24 Billion Nuclear Build Out New Jersey has launched a competitive procurement process for new nuclear capacity under the Power New Jersey Act signed last month. The framework targets at least 1,100 MW of electrical power (MWe) at pre-approved sites and carries an estimated $24 billion price tag . Westinghouse's AP1000 reactor sits coincidentally at about ~1,200 MWe. State officials are emphasizing shovel-ready locations and lessons learned from earlier projects to accelerate deployment. Federal financing tools that can cover up to 80% of costs are expected to play a central role, such as from the DOE's Energy Dominance Financing Office. This state move sits squarely inside the larger federal nuclear effort we have tracked since last fall. We reported in detail on the $80 billion strategic partnership between the U.S. government, Cameco, and Brookfield to advance up to 10 Westinghouse AP1000 reactors. Cameco leadership later indicated the combined opportunity across Department of Commerce and Department of Energy channels could reach as many as 20 AP1000 units . Several utility pairs already sit in advanced planning stages, with work progressing on long-lead items and financing models that range from federal build-own-operate structures to support for existing operators. While state officials and the current procurement documents continue to describe the effort as targeting 1,100 MW, the underlying economics and signals from the federal side point to something larger . Cameco ( and MIT ) has been clear that meaningful cost reductions are likely to appear on the third and fourth AP1000 units, and the DOE’s broader program has consistently favored paired reactor deployments that allow shared infrastructure, long-lead procurement, and supply chain efficiencies. Given that the PSEG Early Site Permit already authorizes two units at the site, the publicly stated 1,100 MW floor may simply be the minimum the process is
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New Jersey state government starts a $2.4 trillion nuclear construction bidding process. Cameco and Brookfield are likely to lead the construction of a new nuclear power plant. The New Jersey state government aims for a minimum 1,100MW power output and estimates an annual $2.4 trillion expenditure.
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- Defense — Cameco and Brookfield are likely to lead New Jersey state government's nuclear construction plans. Cameco and Brookfield have partnered with the US government for an $80 trillion strategic partnership and plan to build up to 20 Westinghouse AP1000 reactors.
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