Japan will invest up to $40 billion to build small modular reactors to generate nuclear power in Tennessee and Alabama, President Donald Trump announced during a visit from Japanese Prime Minister Sanae Takaichi.
The deal is part of an investment fund the nations negotiated in a trade deal last year in exchange for lower tariffs. The investment would come through GE Vernova Hitachi Energy, a North Carolina-based joint venture of GE and the Japanese conglomerate Hitachi.
Takaichi visited Trump on Thursday at the White House.
GE Vernova Hitachi Energy is the developer of the BWRX-300, the small modular reactor that the Tennessee Valley Authority plans to build at its Clinch River site in Oak Ridge, Tennessee.