Overview
- The Department of Energy’s Loan Programs Office issued a $1 billion conditional loan commitment to Constellation Energy to revive the shuttered reactor, now called the Crane Clean Energy Center.
- Constellation is targeting a 2027 return for Unit 1 with roughly 835 megawatts of capacity, pending Nuclear Regulatory Commission approvals.
- Microsoft plans a 20-year power purchase agreement to offtake the plant’s output for data center needs, subject to regulatory clearance.
- DOE expects the first loan disbursement in the first quarter of 2026, and officials said the package lowers Constellation’s cost of capital even though the project could likely proceed without federal backing.
- Officials described the move as the Trump administration’s first significant nuclear loan commitment and said the Loan Programs Office will prioritize additional nuclear restart and new-build projects.