The US government plans to buy and own as many as 10 large nuclear reactors, potentially financed under a $550 billion investment pledge from Japan, Bloomberg reported Wednesday, citing Carl Coe, chief of staff at the Department of Energy, at an energy conference.

The funds stem from a nonbinding commitment Japan made in October to support US industrial and energy projects, including up to $80 billion for new reactors built by Westinghouse Electric, the report said.

Coe acknowledged the move is a major break from traditional US policy, where the federal government generally avoids direct ownership of commercial energy assets, according to the report.

Brookfield Asset Management (BAM) and Cameco (CCJ) acquired Westinghouse in 2023 and remain its controlling owners.

The DOE didn't immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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