The Trump administration is providing $17.5 billion to speed the development of 10 new large nuclear reactors to meet the skyrocketing power demand from massive data centers. This was reported by Qazaqyia.kz citing Associated Press.

Energy Secretary Chris Wright cited "tremendous interest" among developers of data centers that would buy the power, as well as utilities and energy companies. The nuclear plants could begin construction by 2030 and become operational in the mid-2030s, Wright and other officials said Tuesday.

"This is the start," Wright said on a call with reporters. "We're going to move with the players that are ready to stand up and move quickly. Once that supply chain is up and running, do we think there will be dozens of these built going forward? I'd be very surprised if there were not."

Most U.S. nuclear power plants were built between 1970 and 1990. Only two new large reactors have been built from scratch in the United States in recent decades. Those two reactors, at Georgia Power Co.'s Plant Vogtle, were completed years late and billions of dollars over budget. The 10 new reactors will use the same design, Westinghouse's AP1000.

Wright said the Plant Vogtle project struggled because of bad planning, supply chain problems and the COVID-19 pandemic. But, he said, the reactor design is "robust and sound."

"By building in volume and at multiple locations, we think we will create and stand up a large supply chain and build a lot of construction expertise," Wright said. "We expect the timing and cost of these plants to well outperform what was done on Vogtle."

Seven utilities and energy companies signed letters of intent that identified sites, the Energy Department said. The agency plans to pick five, which would host two reactors at each site. The federal financing would be used to purchase nuclear components with long lead times, and are not construction loans.

The department declined to name the utilities involved or the states they are in, calling it premature until the selections are made. It did not give a timeline for the selection.