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NextEra Lands $1.9B Loan for Iowa Nuclear Restart
NextEra Energy has secured a US Department of Energy loan of up to $1.9 billion to support the restart of its Duane Arnold Energy Center in Iowa.
The plant, which closed in 2020 after operating for 45 years, is expected to resume operations in early 2029.
The loan is contingent on licensing approvals from the US Nuclear Regulatory Commission, which are currently pending.
Last year, Alphabet's Google signed a 25-year power purchase agreement with NextEra Energy to buy electricity from the 615-megawatt nuclear plant.