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Google-Funded Nuclear Revival Project Lands $1.9 Billion Loan
Google's Iowa nuclear power plant revival project has received a $1.9 billion loan from the US Department of Energy to finance its refurbishment.
The loan is the second of its kind, following a similar deal with Constellation Energy to restart a reactor at Three Mile Island last year.
According to James Danly, Deputy Secretary of Energy, the Iowa power plant's restart in 2029 will 'drive down electricity costs,' although he did not explain how this would happen.
The facility's owner, NextEra Energy, plans to squeeze an additional 14 megawatts from the refurbished plant, bringing its total capacity to 615 megawatts.