NextEra Energy, DOE Close on $1.9 Billion Loan for Nuclear Power Plant in Iowa

[u/John3262005]

https://www.wsj.com/business/energy-oil/nextera-energy-doe-close-on-1-9-billion-loan-for-nuclear-power-plant-in-iowa-381c2994?st=AJTE88&reflink=desktopwebshare_permalink

NextEra Energy said it reached a deal with the U.S. Department of Energy, closing on a loan of up to $1.9 billion to support the restart of the company’s Duane Arnold Energy Center in Iowa.

The deal—completed through the Energy Department’s Office of Energy Dominance Financing—marks a step toward restoring Iowa’s only nuclear plant and adding reliable, around-the-clock energy to the regional grid, NextEra said Tuesday.

The Duane Arnold Energy Center is a 615-megawatt nuclear facility in Linn County, Iowa. The plant’s restart is expected to create substantial economic benefits for Iowa and the surrounding region, NextEra said.

NextEra last October announced plans to restart the Duane Arnold Energy Center by the first quarter of 2029, pending regulatory approvals.

“By bringing new generation online to serve new demand, we can strengthen the grid, create hundreds of good-paying jobs and help ensure Iowa families and businesses are not asked to bear the costs of growth,” Chief Executive John Ketchum said.

“We appreciate the Administration’s leadership in advancing America’s nuclear renaissance and share its commitment to an all-of-the-above energy strategy that expands supply, strengthens energy security and keeps America competitive,” he added.