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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Why Constellation Energy Stock Just Popped
Key PointsThe US Department of Energy will loan Constellation Energy $1 billion to reopen Three Mile Island.The loan will cover nearly all of Constellation's $1.6 billion estimated startup cost.The loan term will be 30 years.10 stocks we like better than Constellation Energy › It's been more than a year since Constellation Energy (NASDAQ: CEG) announced it will reopen Three Mile Island Unit 1 and sell electricity from that nuclear plant to power…
Three Mile Island Reactor Gets a $1 Billion Government Lifeline
One week ago we said that "hundreds of billions" of dollars are about to be loaned out to nuclear projects by the US government. Well, the first billion is about to be wired. The Wall Street Journal reports Constellation Energy has secured a $1 billion federal loan from the Energy Department's Loan Programs Office (LPO) to restart the Unit 1 reactor at the Three Mile Island reactor plant in Pennsylvania, recently renamed the Crane Clean Energy …
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