U.S. launches $4.4 bn loan program to restart three shuttered nuclear plants for data‑center power
The Energy Department is providing up to $4.4 billion in financing to bring back the Palisades plant in Michigan, the Crane Clean Energy Center at Three Mile Island in Pennsylvania, and the Duane Arnold Energy Center in Iowa. The three reactors together would add about 2.25 GW of capacity, enough for roughly two million homes and large‑scale data centers. Contracts with Google, Microsoft and other tech firms will fund the power, while owners Holtec, NextEra Energy and Constellation Energy aim to have Palisades online by March 2027, Crane by 2027 and Duane Arnold by early 2029.
Why it matters
The DOE loans create a pipeline of new baseload generation that could reduce reliance on fossil‑fuel power and support the growing electricity needs of hyperscale data centers. Investors in the involved utilities and energy‑service firms may see revenue growth from long‑term power purchase agreements tied to these projects.
Key facts
- 1The Energy Department is offering up to $4.4 billion in loans to restart the three plants. winknews.com
- 2The combined capacity of the three reactors is 2.25 GW. winknews.com
- 3Holtec’s power purchase agreements require Palisades to be operational by March 2027. winknews.com
- 4NextEra Energy and Google plan to have Duane Arnold back in service by early 2029. winknews.com
- 5Constellation Energy will invest $1.6 billion to restart the Crane plant under a 20‑year deal with Microsoft, with a $1 billion DOE loan supporting the project. winknews.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.