Trump Administration Approves $1 Billion Loan to Restart Three Mile Island Nuclear Reactor with Microsoft Power Purchase Agreement
By
pseudolus
Slow-proofed and worth the wait. Worth its weight in flour.
Summary
The Trump administration is providing Constellation Energy with a $1 billion loan to restart a nuclear reactor at Three Mile Island, which had been shut down since 2019. Microsoft has committed to purchasing all electricity from the 835 megawatt power plant for two decades, with Constellation estimating the refurbishment project will cost $1.6 billion and be completed by 2028. The deal represents a significant public-private partnership for nuclear energy revival.
Key quotes
· 4 pulledThe Trump administration announced Tuesday it would provide Constellation Energy with a $1 billion loan to restart a nuclear reactor at Three Mile Island.
The energy company said last year it would reopen the reactor, which had been shuttered since 2019, after Microsoft committed to purchasing all the electricity from the 835 megawatt power plant for two decades.
Constellation estimated the project would cost $1.6 billion, and it expects to complete the refurbishment in 2028.
Microsoft has agreed to buy the power once the facility reopens in 2028.
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