ACEC Backs Proposal to Increase Nuclear Energy Investments

ACEC News / Advocacy

July 15, 2020

ACEC Backs Proposal to Increase Nuclear Energy Investments

ACEC joined with other industry groups on a letter in support of a proposed lifting of a self-imposed ban on investing in nuclear energy projects at the US International Development Finance Corporation (DFC), formerly the Overseas Investment Private Investment Corporation (OPIC).

Estimates by the U.S. Department of Commerce value the global nuclear market at $500 – $740 billion over the next decade, with each $1 billion of exports generating between 5,000 and 10,000 jobs in the United States.

More than 25 countries are looking to develop a new nuclear energy program and more than 20 others are looking to expand existing programs, thus far Russia and China have largely filled this void. This is a significant opportunity for US engineering firms to compete for more of this work.

Removing the DFC’s prohibition against nuclear energy projects – a legacy from its predecessor agency – will enable DFC to achieve its three important goals of impactful global development, advancing U.S. foreign policy, and generating returns for American taxpayers.

The U.S. International Development Finance Corporation is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today, investing across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets.

Click here to read the letter.

All comments to blog posts will be moderated by ACEC staff.