U.S. Department of Energy awards $1.9B loan to restart Iowa nuclear plant

The U.S. Department of Energy has finalized a loan of up to $1.9 billion to support the restart of the Duane Arnold Energy Center in Iowa. Owned by NextEra Energy Resources, the 615-megawatt nuclear facility ceased commercial operations in 2020 and is projected to be back online by early 2029.

This initiative is part of a broader federal strategy to increase domestic nuclear energy capacity to meet rising electricity demands. A significant driver for the restart is Google, which has signed a 25-year power purchase agreement with NextEra. The electricity generated will primarily support Google’s expanding cloud and artificial intelligence infrastructure in Iowa, with approximately 50 MW reserved for local customers.

The restart is expected to have a $9.1 billion economic impact on Iowa over 25 years and will provide more than 400 permanent jobs. NextEra noted that roughly 40% of the current restart staff are former employees of the facility.