The US Department of Energy has finalized a loan agreement of up to $1.9 billion with NextEra Energy. The funds are designated for the restart of the Duane Arnold Energy Center in Iowa, which has been inactive since August 2020.
The facility has a capacity of 615 megawatts, sufficient to power approximately 500,000 homes. NextEra Energy has secured a 25-year power purchase agreement with Google to supply electricity primarily for its AI data centers, with 50 megawatts reserved for local consumers.
The project aims to resume operations by early 2029, pending regulatory approval from the Nuclear Regulatory Commission. The restart is expected to create nearly 1,500 construction jobs and over 450 permanent operational positions.
NextEra Energy estimates that the project will contribute more than $9 billion to the Iowa economy over the 25-year term of the contract with Google. The initiative aligns with the administration's policy to prioritize reliable baseload energy capacity.
