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US Approves $1.9 Billion Loan for Iowa Nuclear Facility with Google Deal

Guavy AI Editorial Team
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GOOGL
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The US Department of Energy has approved a $1.9 billion loan to NextEra Energy to revive the Duane Arnold Energy Center in Palo, Iowa.

This financing comes from the DOE's Office of Energy Dominance Financing and follows Google's commitment last October to purchase the plant's entire output over 25 years.

The Duane Arnold facility produces 615 megawatts of power, enough to supply close to 500,000 homes across Iowa and the Midwest.

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