US EditionEnergy Department loans $1B to help finance the restart of nuclear reactor on Three Mile Island
DOE's $1 billion loan supports Constellation's $1.6 billion plan to restart Three Mile Island Unit 1, supplying 835 MW to power Microsoft data centers and create 600 jobs.
- The DOE closed a $1 billion loan to restart Constellation Energy's 835-megawatt Crane Clean Energy Center, formerly Three Mile Island Unit 1, in Middletown, Pennsylvania, on Tuesday.
- Rising power demand from AI and data centers has prompted the Loan Programs Office to use its authorities under the rebranded Energy Dominance Financing Program, aligning with President Donald Trump's priority to expand nuclear capacity.
- The financing package shows that Constellation Energy estimates the restart will cost $1.6 billion, with the $1 billion DOE loan covering most and the first advance expected in the first quarter of 2026.
- Constellation will sell the unit's power to Microsoft under a long-term contract, and the DOE said the loan lowers Constellation Energy's financing costs, making power cheaper for PJM Interconnection ratepayers in the Mid‑Atlantic region.
- Sitting on the infamous 1979 site, the project revives Three Mile Island Unit 1 as the Crane Clean Energy Center, testing the U.S. nuclear industry with a 2027 restart target.
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136 Articles
Why the government is spending $1B to restart Three Mile Island nuclear plant
The U.S. Department of Energy (DOE) is providing $1 billion to help restart the nuclear power plant at Three Mile Island. Microsoft is behind the push to recommission one of the power plant’s reactors as the company looks to secure power for data centers. The loan to the plant’s owner Constellation Energy will cover a majority of the project’s $1.6 billion budget. The project was already well underway before the DOE’s Loan Program Office became…
“This Is A National Emergency” – US Govt To Buy 10 Large, New Nuclear Reactors
from ZeroHedge: Hot on the heels of news that it will invest “hundreds of billions” in loans to the nuclear power industry, including one already disbursed loan for $1BN to restart Three Mile Island, Bloomberg reported that the US government also plans to buy and own as many as 10 new, large nuclear reactors that […]
Constellation Energy’s plant to provide energy equivalent to 800,000 houses - Anadolu Ajansı
US President Donald Trump's administration announced on Tuesday that it had given Constellation Energy Corp a $1 billion loan to restart the company's nuclear reactor at the Pennsylvania station formerly known as Three Mile Island.
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