The U.S. Department of Energy (DOE) has pledged to loan $1 billion to Constellation Energy to restart the only functioning nuclear power reactor at Three Mile Island. Microsoft has contracted Constellation Energy to supply power to its data centers from Pennsylvania’s Three Mile Island for 20 years. Constellation Energy stated that the federal loan will enable it to lower its financing costs of restarting the suspended program. The DOE claims that the 835-MW reactor can power almost 800,000 homes and create thousands of jobs. It also marks the first time the DOE Loan Programs Office has finalized both a conditional loan commitment and financial close simultaneously. Constellation Energy says its strong balance sheet and creditworthiness made it possible. Last year, the energy company announced that it would spend roughly $1.6 billion to restart the reactor. It renamed the lone functioning unit the Crane Clean Energy Center as it works to restore equipment, including cooling and control systems, the generator, the turbine, and the main power transformer. The plant is expected to be fully back online by 2027. Launching the Crane Clean Energy Center is part of the company’s broader multi-billion-dollar investment aimed at extending the lives of existing nuclear plants and boosting their output. Dominguez says the FERC also helped expedite the restart The President and CEO of Constellation Energy, Joe Dominguez, stated that the Trump administration’s FERC (Federal Energy Regulatory Commission), alongside DOE, made it possible to expedite the restart without compromising safety or quality. Dominguez also believes this is a good example of how America-first energy policies create jobs. The Constellation Energy executive noted that grid and utility operators are slow, and they need to implement regulatory changes that will enable the country to unlock its full energy potential. Dominguez expressed gratitude to President Donald Trump and Secretary Chris Wright for their efforts in energizing the DOE. “DOE’s quick action and leadership is another huge step towards bringing hundreds of megawatts of reliable nuclear power onto the grid at this critical moment.” – Joe Dominguez , President and CEO of Constellation Energy Dominguez also believes that the DOE’s interest-bearing loan will leverage private investment to restore reliable nuclear energy to the grid while boosting America’s chances in the AI race. Senator Dave McCormick noted that Pennsylvania is now leading America’s efforts in AI transformation and energy independence, providing clean, safe, and reliable nuclear power. McCormick claims Trump’s loan will help create 3,400 new jobs Sen. McCormick said President Trump’s loan is excellent news because it will create 3,400 new jobs and over 800 MW of carbon-free electricity around the clock. The Senator added that the loan will be sufficient to support Constellation’s restart. The Crane Clean Energy Center is currently over 80% staffed with more than 500 employees. An economic impact study commissioned by the Pennsylvania Building & Construction Trades Council also claimed restarting the reactor at Crane will generate more than $16 billion for Pennsylvania’s GDP and over $3 billion in federal and state tax revenue. Meanwhile, the Baltimore-headquartered Fortune 200 company has committed over $1 million to support workforce development and local organizations in the region. The energy company has donated $200,000 to more than a dozen charities in 2025 alone. Constellation Energy aims to become the country’s leading producer of reliable, emissions-free energy. It also aims to be the number one supplier of energy to homes and public sector customers nationwide. Meanwhile, the energy company claims that its annual output is nearly 90% carbon-free. Its hydro, solar, and wind facilities are also paired with the largest U.S. nuclear fleet and have a generating capacity to power roughly 16 million homes, about 10% of the country’s clean energy demand. Join a premium crypto trading community free for 30 days - normally $100/mo.
