The Alvin W. Vogtle Electric Generating Plant in Waynesboro, Ga., on May 6. The Trump administration on Tuesday announced a plan to build several new nuclear power plants in what it described as an $80-billion deal to use reactors developed by Westinghouse Electric Company.

U.S. reactor vendor Westinghouse Electric Co. and its Canadian owners, Brookfield Asset Management BAM-T and Cameco Corp. CCO-T , have signed an agreement with the United States government intended to spur construction of as many as eight large nuclear reactors .

Described as a “binding term sheet,” the agreement requires the U.S. government to arrange financing and facilitate permitting approvals for reactors costing at least US$80-billion, the parties announced Tuesday. The proposed reactors would be built on

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