Overview
- DOE’s Loan Programs Office closed a $1 billion conditional loan for Constellation’s Crane Clean Energy Center, with the first disbursement expected in the first quarter of 2026.
- Constellation plans to bring the previously shuttered Unit 1 back online as soon as 2027, targeting roughly 835 megawatts of output, or power for about 800,000 homes.
- The financing is guaranteed by Constellation, which DOE officials said lowers the project’s cost of capital and is intended to make electricity cheaper for PJM ratepayers.
- A 20-year power purchase agreement with Microsoft anchors the project as large tech customers seek reliable, round‑the‑clock electricity for data centers.
- Regulatory approvals remain outstanding, including NRC licensing and water permits, and DOE officials signaled this loan as part of a broader push to prioritize nuclear restarts and new reactor development.