Japan looks to support U.S. nuclear projects
Following a meeting last week with President Donald Trump, Japan has announced that it would provide up to $332 billion to support critical energy projects in the U.S., including the construction of nuclear reactor projects.
The investment stems from a U.S.-Japan framework agreement made in July when Japan committed to investing $550 billion in U.S. industries. In September, Trump signed an executive order implementing the framework agreement.
As part of the agreement, Japan and its domestic companies will spend billions on critical infrastructure projects in the U.S., according to a joint fact sheet released in late October. However, none of these projects have been finalized, Japan’s Finance Minister Satsuki Katayama said during Trump’s October trip to Japan, according to The Japan Times.
Projected investments:
- Up to $100 billion to support Westinghouse in the construction of its AP1000 large-scale reactors and small modular reactors, with possible partnerships with Japanese companies including Mitsubishi, Heavy Industries, Toshiba Group, and IHI.
- Up to $100 billion to support the construction of SMRs such as the BWRX-300, which GE Vernova Hitachi is building at the Darlington nuclear power plant in Ontario, Canada–making it the first SMR to be built in North America.
- Up to $50 billion engineering, procurement, and other services to build critical power plants, substations, and transmission systems in collaboration with Bechtel and Kiewit, and possible partnerships with Japanese companies.
- Up to $25 billion for GE Vernova to supply large-scale power equipment such as gas turbines, steam turbines, and generators to grid electrification and stabilization systems, including high-voltage direct current and substation solutions for mission-critical facilities, with possible partnerships with Japanese companies.
- Up to $25 billion to the SoftBank Group toward engineering and developing the specification, design, procurement, assembly, integration, operations, and maintenance for the building of large-scale power infrastructure.
- Up to $20 billion to Carrier to provide thermal cooling systems and solutions, including chillers, air handling systems, and coolant distribution units essential for power infrastructure, with Japanese companies considered for partnering.
More: Separately, NuScale announced in late October that its financial partner ENTRA1 Energy is expected to receive up to $25 billion to power AI and industrial growth, as part of the U.S.-Japan framework agreement.
.svg)
