The U.S. Department of Energy (DOE) has listed loans totaling up to $4.42 billion for three planned nuclear plant restarts, projects that could return 2,250 megawatts of capacity to the grid.
DOE records list Palisades in Michigan at 800 megawatts, with a $1.52 billion loan closed in September 2024; Crane Clean Energy Center in Pennsylvania at 835 megawatts, with a $1 billion loan closed in November 2025; and Duane Arnold Energy Center in Iowa at 615 megawatts, with a loan of up to $1.9 billion closed in September 2026. The listed capacities add up to 2,250 megawatts. Because the Duane Arnold loan amount is a ceiling, the combined $4.42 billion is a maximum based on the listed figures. Constellation’s August filing reported no borrowings against the Crane loan as of June 30, 2026.
Microsoft signed a 20-year power purchase agreement for Crane’s output. Constellation says the deal is intended to match electricity use at data centers in the PJM region. Google signed a 25-year agreement for Duane Arnold’s power. NextEra Energy expects the plant to deliver electricity by the first quarter of 2029, subject to regulatory approvals. The company says Google’s agreement covers the cost of the power it buys and that Iowa customers will not bear costs tied to those purchases.
Palisades has long-term power agreements with Wolverine Power Cooperative and Hoosier Energy. Holtec said fuel loading began Aug. 30, 2026, and reported on Sept. 21 that work had paused after a fuel assembly tilted. On Oct. 13, the Nuclear Regulatory Commission (NRC) issued a one-time license amendment allowing an alternative method to move the assembly.
DOE says Palisades would be the first retired U.S. nuclear plant brought back into operation, while Crane would be the country’s second restart project involving a reactor that had entered decommissioning. Crane is Three Mile Island’s Unit 1; the 1979 accident occurred at Unit 2. Constellation says Crane shut down for economic reasons in 2019. Duane Arnold permanently closed on Aug. 10, 2020, after a derecho damaged non-safety parts of the plant, according to NRC records. Constellation expects Crane to return in 2027, while NextEra’s Duane Arnold target is the first quarter of 2029, subject to approvals.
