Utility Dive•about 1 month ago
DOE loans Constellation $1B to restart Three Mile Island nuclear unit
Key Takeaway
Government-backed financing is enabling the return of significant, zero-carbon baseload nuclear capacity, impacting long-term grid stability and emissions profiles for developers and large consumers.
AI Summary
- •Constellation secured a $1 billion Department of Energy (DOE) loan to restart a nuclear unit at Three Mile Island.
- •The project entails an estimated $1.6 billion investment, equating to approximately $1,916 per kW, with a target restart date as early as 2027.
- •This initiative signifies a substantial return of zero-carbon baseload generation capacity to the grid, backed by federal policy support.
- •For developers and large power consumers, this indicates increased long-term power supply stability and a potential reduction in grid carbon intensity.
Topics
capacity-marketemissionsfinancingpolicy