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Trump Administration Announces $1.9 Billion Loan For Iowa Nuclear Plant Restart

The 615-megawatt facility, which closed in 2020 after a tropical storm, is expected to supply electricity under a 25-year power purchase agreement with Google.

,   and  TIPP Staff
2 min read
Trump administration announces $1.9B loan to support Iowa nuclear plant restart. Pic via(@thehill)

The U.S. Department of Energy has announced a loan of up to $1.9 billion to NextEra Energy to support the restart of the Duane Arnold Energy Center in Palo, Iowa, as rising electricity demand drives renewed interest in nuclear power.

The 615-megawatt facility, which closed in 2020 after a tropical storm, is expected to supply electricity under a 25-year power purchase agreement with Google.

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Its restart could create nearly 1,500 construction jobs and support more than 450 permanent positions. Once operational, the plant is expected to provide electricity for nearly 500,000 homes across Iowa and the Midwest.

NextEra must still obtain approval from the U.S. Nuclear Regulatory Commission before restarting the facility.

The federal financing is part of broader efforts to revive the U.S. nuclear industry, including plans to restart other retired facilities such as the 800-megawatt Palisades plant in Michigan. No previously closed U.S. nuclear plant has yet resumed operations under these efforts.

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