Latest news with #AP1000
Reuters
4 days ago
- Business
- Reuters
Bulgaria secures Citi to help finance nuclear expansion at Kozloduy site
July 16 (Reuters) - Bulgaria has secured a partnership with U.S. bank Citi (C.N), opens new tab to finance the construction of nuclear power units at Kozloduy NPP, marking the country's largest energy project in decades, its energy ministry said on Wednesday. Energy Minister Zhecho Stankov held final talks in New York with Citi's leadership, agreeing on financing for units 7 and 8 at the Bulgarian nuclear site that will use Westinghouse's AP1000 technology. "The agreement with Citi is an essential step for the successful implementation of the government's priority energy project, ensuring energy independence and long-term stability," Stankov said during the meeting with Stephanie von Friedeburg, Citi's Global Director of Public Sector Banking. For Citi, serving as exclusive coordinator and arranger of export credit, the deal represents its largest nuclear financing project in Central and Eastern Europe, according to the ministry statement. It did not specify the exact amount of financing agreed and Citi was not immediately available for comment to Reuters. Kozloduy is Bulgaria's only nuclear power plant and dates back to the 1970s. It has two 1,000 megawatts Soviet-made reactors in operation. Four others were closed by 2007. Under the expansion plans, unit 7 would be ready by 2033 and unit 8 would follow at a later stage. South Korea's Hyundai Engineering & Construction ( opens new tab received parliamentary approval in Bulgaria in February to advance discussions on building two nuclear reactors with a combined capacity of 2,300 MW.
CNBC
5 days ago
- Business
- CNBC
Westinghouse plans to build 10 large nuclear reactors in U.S., interim CEO tells Trump
Westinghouse plans to build 10 large nuclear reactors in the U.S. with construction to begin by 2030, interim CEO Dan Sumner told President Donald Trump at a roundtable in Pittsburgh on Tuesday. Westinghouse's big AP1000 reactor generates enough electricity to power more than 750,000 homes, according to the company. Building 10 of these reactors would drive $75 billion of economic value across the U.S. and $6 billion in Pennsylvania, Sumner said. The Westinghouse executive laid out the plan to Trump during a conference on energy and artificial intelligence at Carnegie Mellon University. Technology, energy and financial executives announced more than $90 billion of investment in data centers and power infrastructure at the conference, according to the office of Sen. Dave McCormick, who organized the event. Trump issued four executive orders in May that aim to quadruple nuclear power in the U.S. by 2050. The president called for the U.S. to have 10 nuclear plants under construction by 2050. He ordered a "wholesale revision" of the Nuclear Regulatory Commission's rules and guidelines. The U.S. has built only two new nuclear reactors over the past 30 years, both of which were Westinghouse AP1000s at Plant Vogtle in Waynesboro, Georgia. The project notoriously came in $18 billion over budget and seven years behind schedule, contributing to the bankruptcy of Westinghouse. The industry stalwart emerged from bankruptcy in 2018 and us now owned by Canadian uranium miner Cameco and Brookfield Asset Management. Westinghouse announced a partnership with Google on Tuesday to use AI tools to make the construction of AP1000s an "efficient, repeatable process," according to the company.
Business Wire
5 days ago
- Business
- Business Wire
Westinghouse to Accelerate US Nuclear Reactor Construction and Enhance Operations with Google Cloud AI
CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Westinghouse Electric Company and Google Cloud today announced they are collaborating to use artificial intelligence (AI) tools to transform the construction of advanced Westinghouse nuclear reactors into an efficient, repeatable process and enhance the operations of existing nuclear power plants using data-driven insights. Together, the two companies will pair Westinghouse's powerful HiVE™ and bertha™ nuclear AI solutions with Google Cloud technologies and expertise to streamline construction of new nuclear plants. AI tools will also improve the current nuclear fleet with data-driven AI insights. 'As the only fully licensed, construction ready modular reactor available today, our AP1000 ® technology is the quickest way to add new sources of affordable and abundant nuclear energy to the U.S. grid,' said Dan Sumner, Westinghouse Interim Chief Executive Officer. 'By partnering with Google Cloud to enhance our HiVE and bertha technology, and backed by 75 years of our proprietary nuclear data, we can accelerate the deployment of new AP1000 units while implementing powerful AI technologies that will optimize the construction and operations of nuclear power plants.' 'This partnership with Westinghouse combines Google Cloud's AI technologies and expertise with Westinghouse's century-long expertise in nuclear innovation to chart a new path towards a smarter and safer future,' said Kyle Jessen, Managing Director, Commercial Industries, Google Cloud. 'Artificial intelligence is not merely a tool; it can give companies a critical competitive advantage. Westinghouse is demonstrating what's possible.' As part of this collaboration, Westinghouse and Google Cloud have successfully achieved a first-of-a-kind proof of concept leveraging Westinghouse's WNEXUS digital plant design platform and HiVE artificial intelligence enhanced by Google Cloud technologies, including Vertex AI, Gemini and BigQuery, to autonomously generate and optimize AP1000 modular construction work packages. In September 2024, Westinghouse introduced HiVE and bertha, which are built from more than 75 years of proprietary data, knowledge and expertise. These nuclear-specific AI solutions are supported by dedicated nuclear engineers, and will optimize new nuclear deployment of our AP1000 reactor, AP300™ small modular reactors and eVinci ® microreactor technologies. Westinghouse's AI solutions are ready to support power plant operations by helping to deliver reliable and cost-effective electricity to homes and businesses. Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957 and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit and follow us on Facebook, LinkedIn and X.
Business Wire
10-07-2025
- Business
- Business Wire
Westinghouse and Energoatom Reinforce Ukraine's Energy Independence with Partnership for Fuel Assembly Capability
ROME--(BUSINESS WIRE)--Westinghouse Electric Company and JSC 'NNEGC 'Energoatom,' Ukraine's national nuclear power company, signed an agreement at the Ukraine Recovery Conference to jointly pursue final fuel assembly capability in Ukraine. This cooperation deepens the partnership between both companies around security of fuel supply for Ukraine's nuclear fleet, leveraging the Westinghouse VVER fuel solution, the only fully Western VVER fuel offering. Petro Kotin, Acting CEO of JSC 'NNEGC 'Energoatom,' and Aziz Dag, Westinghouse Senior Vice-President of Global BWR and VVER Fuel Business, signed the declaration in the presence of Ukraine's Minister of Energy, German Galuschenko The agreement confirms the intention to establish an assembly line for VVER-1000 fuel elements at the facilities of Energoatom's affiliate AtomEnergoMash. It is expected that the final agreement will be signed in the near future. Earlier this year, Westinghouse approved AtomEnergoMash as a qualified supplier for the manufacturing of top and bottom nozzles for Westinghouse's VVER-1000 fuel assemblies in Ukraine, paving the way for this new advanced fuel assembly capability in the country. "We are continuing our path to establishing our nuclear fuel assembly line in Ukraine by implementing advanced Westinghouse technologies. I am very grateful to our partners for their trust, based on many years of successful cooperation. Step by step, Energoatom is moving towards becoming the centre of nuclear energy in Eastern Europe," said Petro Kotin, head of JSC 'NNEGC 'Energoatom'. 'We are proud to extend our strong partnership and shared commitment to energy security in Ukraine,' said Tarik Choho, Westinghouse Nuclear Fuel President. 'Westinghouse has an excellent track record of VVER nuclear fuel design used in VVER-1000 and VVER-440 nuclear power plants in Ukraine, with two decades of exceptional operational performance. Our best-in-class fuel assemblies help Ukraine and other countries reduce their dependence on Russian nuclear fuel supply chains and advance a carbon-free future.' Besides providing Ukraine's existing nuclear fleet with its industry-leading fuel, Westinghouse has committed to build nine AP1000 ® reactors in Ukraine. The AP1000 reactor is the only operating advanced Generation III+ reactor with fully passive safety systems, modular construction design and the smallest footprint per MWe on the market. There are six AP1000 reactors currently setting operational performance and availability records worldwide, with twelve reactors under construction and six more under contract. There will be 18 units based on AP1000 technology in operation globally by the end of the decade. The AP1000 technology has also been selected for nuclear energy programs in Poland and Bulgaria and is also under consideration at multiple other sites in Europe, the United Kingdom and North America. Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Westinghouse supplied the world's first commercial pressurized water reactor in 1957, and the company's technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit and follow us on Facebook, LinkedIn and X.
Yahoo
08-07-2025
- Business
- Yahoo
Texas project to build four nuclear plants is in talks with 'hyperscalers'
By Timothy Gardner WASHINGTON (Reuters) -Fermi, a Texas company looking to build four nuclear plants next to a U.S. nuclear weapons complex, said in documents revealed on Tuesday that it is talking with large data managers on leasing agreements for the project. Fermi, co-founded by Rick Perry, a former U.S. energy secretary, wants to build four AP1000 reactors at a facility it is calling a "hypergrid." The up to 11 gigawatt (GW) facility in Amarillo powered by nuclear, natural gas, and renewable energy, is planned near the Department of Energy's Pantex nuclear weapons plant and in partnership with Texas Tech University. Fermi said in its application at the Nuclear Regulatory Commission, which the regulator made public on Tuesday, that it is engaging in talks with many Big Tech companies, known as "hyperscalers," on letters of intent and term sheets, or preliminary documents that are usually non-binding. The application said that the hyperscalers would be tenants, apparently meaning they would not own part of the plants. Fermi did not immediately answer questions about financial arrangements being discussed with Big Tech companies or which or how many hyperscalers it is in talks with. The last two reactors built in the U.S. were AP1000, completed in Vogtle, Georgia. They cost a total of more than $30 billion, according to the U.S. Energy Information Administration. Those plants were delayed by years and came in billions of dollars above projected costs. But nuclear backers say lessons learned should cut construction time and final costs of the next AP1000 reactors. Fermi said in the application that the nuclear complex, which it calls the Donald J. Trump Generating Plant, will be eligible for financing from the Department of Energy's Loan Programs Office. The only time the president tapped the LPO in his first term was for the Vogtle plants. The company said other plans to finance construction and operation include equity capital contributions from institutional infrastructure and real estate investors, structured bond offerings, and clean energy tax credits.
