$120 Billion Korean Commitment to Support Construction of Westinghouse Nuclear Reactors in U.S.

On September 30, 2026, Westinghouse Electric Company ("Westinghouse") and Brookfield Asset Management ("Brookfield") welcomed the new strategic partnership between the U.S. Government and the Republic of Korea ("Korea") to support the deployment of Westinghouse technology in the U.S. Under the partnership, Korea commits up to $120 billion of investment to help finance the construction of eight nuclear reactors in the U.S., including six Westinghouse AP1000 reactors and two Korean APR1400 reactors which also incorporate Westinghouse technology. The partnership also provides for a cornerstone equity investment of between 5% and 10% in Westinghouse by Korea. Cravath is representing Westinghouse and Brookfield in connection with the strategic partnership.

This announcement is the next step in the strategic partnership announced in October 2025 between the Department of Commerce, Westinghouse and its shareholders, Brookfield and Cameco, to fund the deployment of at least $80 billion of Westinghouse nuclear reactors in the U.S. on federal sites, in which Cravath is representing Westinghouse and Brookfield. This framework and funding commitment is separate and distinct from the Department of Energy's strategic partnership announced in June 2026, including the $17.5 billion conditional loan funding arrangement to support the purchase of long-lead items, in which Cravath is representing Westinghouse.

The Cravath team is led by partners Adam M. Sanchez and Richard Hall and includes associates Maurice Temming and Joshua G. Ezickson on corporate matters; partner Andrew C. Compton on energy matters; partners Andrew J. Pitts and C. Daniel Haaren on capital markets matters; partner Matthew M. Kelly on financing matters; partners Lauren Angelilli and Christopher K. Fargo on tax matters; and partner Sasha Rosenthal-Larrea on intellectual property matters.