Energy Secretary Rick Perry is scheduled to hold talks with Saudi officials on Friday in London about a potential deal to build nuclear power reactors in the kingdom, Bloomberg reports, citing knowledgeable sources.

The backdrop: Westinghouse has been negotiating with other U.S.-based companies on a bid worth about $12 billion. Per Bloomberg, Friday's meeting is an important step towards reaching a deal, and Perry has canceled a trip to India to attend it. Saudi Arabia reportedly plans to build 16 nuclear power reactors over the next 20 to 25 years, costing more than $80 billion.