(Reuters) -The Utah Office of Energy Development, TerraPower and land development firm Flagship Companies signed an agreement on Monday to explore sites for a nuclear reactor project and an energy storage plant amid soaring demand for power.

The parties said they expect to make recommendations for a site by the end of the year.

U.S. nuclear power is experiencing a renaissance after decades of stagnation, driven by record demand from data centers used for artificial intelligence technologies and the electrification of industries such as transportation and manufacturing.

The agreement also supports Utah Governor Spencer J. Cox’s Operation Gigawatt, a strategic effort to build an energy ecosystem that serves Utah and the Western U.S., the companies said in a statement.

President Donald Tr

See Full Page