NextEra Energy Secures $1.9 Billion DOE Loan to Restart Iowa Nuclear Plant

(RTTNews) — NextEra Energy Inc. (NEE) has finalized a loan agreement with the U.S. Department of Energy (DOE) aimed at restarting the Duane Arnold Energy Center in Iowa, marking a major step toward reactivating the state’s sole nuclear power facility.

Through the DOE’s Office of Energy Dominance Financing, the agency approved a loan of up to $1.9 billion to support the revival of the 615-megawatt plant located in Linn County. NextEra estimates the project could generate over $9 billion in economic activity for Iowa across 25 years, create thousands of construction and refurbishment jobs, sustain more than 400 permanent operational roles, and yield roughly $75 million in tax revenue over the plant’s lifetime.

The company first disclosed its restart plans last October, targeting a reopening no later than the first quarter of 2027. The DOE-backed financing underscores one of the most prominent nuclear facility restart initiatives currently underway in the United States.

Duane Arnold operated for over four decades before ceasing operations in 2020. NextEra is advancing the restart through a series of regulatory, licensing, and readiness milestones under the supervision of the Nuclear Regulatory Commission and relevant state authorities.

In pre-market trading on the NYSE, NextEra Energy shares dipped 0.25% to $83.21, extending Monday’s 0.75% decline from the regular session close.

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