NextEra Secures Up to $1.9 Billion DOE Loan for Duane Arnold Nuclear Restart

NextEra Energy ($NEE) and the U.S. Department of Energy reached financial close on a loan of up to $1.9 billion to support the restart of the 615-megawatt Duane Arnold Energy Center in Iowa. The plant, which shut down in 2020, is targeted for a return to service by the first quarter of 2029, pending regulatory approvals.

• Duane Arnold is expected to add 615 megawatts of nuclear generation to the regional grid, enough to power nearly 500,000 homes.
• The project is expected to create nearly 1,500 construction jobs and more than 450 permanent operating positions.
• NextEra continues to undergo licensing reviews, inspections and environmental approvals with the Nuclear Regulatory Commission.
• In June, the Iowa Utilities Commission issued a certificate authorizing construction and operation of the facility.
• NextEra's July federal lobbying disclosures included $2.22 million in expenses covering nuclear legislation, NRC actions, transmission, generation interconnection, permitting and energy infrastructure.

Relevant Companies

• NextEra Energy ($NEE) - The company owns and is pursuing the restart of the Duane Arnold nuclear facility.

Editor’s Note: This is a developing story. This article may be updated as more details become available.