DOE Finalizes $1.9 Billion Loan to Restart Duane Arnold Nuclear Plant in Iowa
The U.S. Department of Energy (DOE) has finalized a loan of up to $1.9 billion to NextEra Energy to facilitate the restart of the Duane Arnold Energy Center in Iowa. This nuclear power plant, a 615-megawatt facility in Palo, Linn County, ceased operations in August 2020 after 45 years, following damage from a derecho wind event. The decision to restart the plant is partly driven by the increasing demand for energy, particularly from data centers. NextEra has secured a 25-year power purchase agreement with Alphabet's Google to supply electricity from the plant. The facility is projected to resume commercial operation in the first quarter of 2029, pending approval from the U.S. Nuclear Regulatory Commission. This initiative is part of a broader strategy by the DOE to bring closed nuclear power plants back online, including the Palisades station in Michigan and Three Mile Island in Pennsylvania. 
