The Department of Energy’s Office of Energy Dominance Financing issued a near $2 billion loan to NextEra Energy to help with efforts to restart the Duane Arnold nuclear plant in Iowa.
The $1.9 billion loan is the largest yet that DOE has issued to help revive a nuclear power plant. The former Three Mile Island Unit 1, now referred to as Crane Clean Energy Center, received a $1 billion loan in November 2025 and Palisades received a $1.5 billion loan in September 2024.
DOE said in its Tuesday press release Duane Arnold’s restart will bring 615 megawatts of electricity back on the grid and will create around 1,500 jobs through construction and more than 450 operations jobs.
“Returning 615 megawatts of reliable baseload generation will drive down electricity costs, while supporting thousands of American jobs,” Deputy Secretary of Energy James Danly said. “This Administration is pursuing a comprehensive nuclear strategy, restarting existing reactors, increasing the output of our nuclear fleet, and accelerating new construction, to build the abundant, affordable, and reliable power system required for American prosperity and reindustrialization.”
Shuttered in 2020, the Linn County-based Duane Arnold served as Iowa’s sole nuclear power plant. NextEra announced a partnership with Google in October 2025 where the two companies entered into a 25-year power-purchase-agreement to support the restoration efforts of Duane Arnold.
The utility holding company, which recently regained full ownership of Duane Arnold, recently said it plans to have the plant back online by 2029. The Duane Arnold’s Nuclear Regulatory Commission (NRC) license is scheduled to expire in early 2034.
The announcement of DOE’s loan comes a month after NRC found no significant environmental harm in Duane Arnold’s plans to restart.