Orano may seek investors for $5 billion nuclear fuel plant in US

French nuclear fuel producer Orano SA said it may seek minority investors to help finance a $5 billion uranium enrichment plant that’s planned in Tennessee.

Orano was awarded $900 million this week by the US government to build the facility, but it’s still studying options for the rest of the funding required, the company said Tuesday. That may include equity and debt, as well as potential minority partners.

The Trump administration awarded funds to three nuclear fuel makers as part of an effort to restart domestic production and wean the US off Russian supplies. The move comes amid surging power demand from data centers and mounting pressure on politicians to tame rising energy bills.

State-controlled Orano, which already supplies enriched uranium to US utilities from a plant in France, aims to reach a final investment decision on its US project next year, pending regulatory approvals. Production in Oak Ridge, Tennessee, would start in 2031.

(By Francois de Beaupuy)