The United States government could become a majority shareholder in nuclear plants, under a US$80 billion plan from the Trump administration.
A deal signed last week between the Commerce Department and the owners of Westinghouse nuclear plants, Cameco and Brookfield Asset Management, could see a transformation into an independent, publicly traded company where the government is a major shareholder.
Cameco is one of the largest uranium miners globally, while Brookfield is one of the leading investors in energy generation.
Under the new deal, the U.S. government is granted a participation interest in Westinghouse and could utilise Department of Energy loans to finance projects.
It can require a first public offering on or before January 2029, if Westinghouse's value rises to $30 billion or above, which could see the government becoming an 8% shareholder in the company.
During a Q3 earnings call yesterday, Cameco's COO Grant Isaac said there was a definite consideration for flipping Westinghouse as an independent company in 2029.
“We’re going to keep all options on the table…this partnership agreement does not force us to leave Westinghouse in 2029,” Isaac said.
"The partnership provides for the U.S. Government to arrange financing and facilitate the permitting and approvals of new Westinghouse nuclear reactors…this milestone is expected to strengthen energy security, revitalise supply chains, and creates significant growth opportunities for both Westinghouse and for Cameco."
