Capito, Murkowski urge U.S. international development agency to finance nuclear energy projects

U.S. Sens. Shelley Moore Capito (R-WV) and Lisa Murkowski (R-AK) are calling for the U.S. International Development Finance Corp. (DFC) to begin financing civil nuclear energy projects.

In a Dec. 8 letter addressed to Scott Nathan, chief executive officer of the DFC, the senators wrote that the DFC is able to play an important role in supporting the continued development and future deployment of U.S. advanced nuclear technology abroad.

The lawmakers noted that the DFC modernized its nuclear energy policy in 2020 and lifted its prohibition on financing nuclear energy projects. They are urging the DFC to begin financing those projects given the current war between Russia and Ukraine and the threat that the conflict poses to the global nuclear fuel supply.

“Bipartisan support for advanced nuclear is based not only on its promise to reduce emissions and potential to deliver global clean energy at scale to support economic development but also on the understanding that U.S. global leadership in this field is vital to our core national security interests,” the bipartisan letter said.

“Exporting new and advanced nuclear technologies like small modular and micro-reactors would support our allies’ growing energy security needs and allow DFC to meet its mandate to facilitate growth in lower-income countries,” said the letter, which was also signed by U.S. Sens. Joe Manchin (D-WV) and John Barrasso (R-WY).

Deploying U.S. nuclear technologies also would help counter Russian and Chinese efforts to use civil nuclear exports for their own political ends, the senators wrote.

“Given the greater national priorities at stake, we urge the DFC to pursue opportunities to implement this critical authority by financing nuclear projects and seeking additional opportunities to attract new nuclear energy applicants,” Sens. Capito and Murkowski and their colleagues wrote.