(Investing) – WASHINGTON – U.S. President Donald Trump will sign executive orders as soon as Friday that aim to jumpstart the nuclear energy industry by easing the regulatory process on approvals for new reactors and strengthening fuel supply chains, four sources familiar said.
Facing the first rise in power demand in two decades from the boom in artificial intelligence, Trump declared an energy emergency on his first day in office.
Chris Wright, the energy secretary, has said the race to develop power sources and data centers needed for AI is “Manhattan Project 2”, referring to the massive U.S. program during World War II to develop atomic bombs.
A draft summary of the orders said Trump will invoke the Cold War-era Defense Production Act to declare a national emergency over U.S. dependence on Russia and China for enriched uranium, nuclear fuel processing and advanced reactor inputs.
The summary also directs agencies to permit and site new nuclear facilities and directs the Departments of Energy and Defense to identify federal lands and facilities for nuclear deployment and to streamline processes to get them built.
It also encourages the Energy Department to use loan guarantees and direct loans to increase the build out of reactors. Trump only used the Loan Programs Office in his first administration to support a large nuclear plant in Georgia.
The LPO has now has hundreds of billions of dollars in financing thanks to legislation passed during former President Joe Biden’s administration, but has been hit hard by job cuts during Trump’s second administration.
The White House did not immediately respond to a request for comment. The exact text and wording of draft executive orders is subject to frequent changes and there is no guarantee elements of the EOs will not be excised or modified during the final stages of the review process.
The United States was the first developer of nuclear power and has the most nuclear power capacity in the world, but the energy source is now growing the fastest in China.
One of the sources said officials from the industry including the Nuclear Energy Institute and Constellation, a utility with the biggest U.S. reactor capacity, were invited to attend a signing ceremony Friday afternoon. Constellation and NEI did not immediately respond to requests for comment.
The Trump administration has been debating four draft executive orders to boost nuclear power that sought ways to give the administration more power to approve reactors and reform the Nuclear Regulatory Commission, the body of five panelists that approves reactors.
Nuclear is popular with Democrats for being virtually free in carbon emissions and with Republicans for providing reliable electricity compared to wind and solar power which can be intermittent, a problem that can be managed with battery storage.
Nuclear power produces radioactive waste which for which there is no permanent repository in the United States.
