Trump administration announces $1.9B loan to support Iowa nuclear plant restart

The Trump administration on Tuesday announced it will loan $1.9 billion to NextEra Energy to finance the restart of an Iowa nuclear plant . The project — which will be the Hawkeye State’s only nuclear power plant — is expected to generate enough power for more than 500,000 homes. Iowa Public Radio reported that the plant, called the Duane Arnold Nuclear Plant, ceased operating in 2020 after damage from a derecho , which is a widespread, long-lived windstorm paired with rapidly moving rain or thunderstorms. Last year, Google and NextEra announced a deal to restart the plant in which the tech giant would purchase power from the plant for its AI and cloud infrastructure. The Trump administration has sought to bolster nuclear energy, in addition to fossil fuels. In a statement, Deputy Energy Secretary James Danly said the loan “marks another step in advancing America’s nuclear renaissance.”

The Trump administration on Tuesday announced it will loan $1.9 billion to NextEra Energy to finance the restart of an Iowa nuclear plant .

The project — which will be the Hawkeye State’s only nuclear power plant — is expected to generate enough power for more than 500,000 homes.

Iowa Public Radio reported that the plant, called the Duane Arnold Nuclear Plant, ceased operating in 2020 after damage from a derecho , which is a widespread, long-lived windstorm paired with rapidly moving rain or thunderstorms.

Last year, Google and NextEra announced a deal to restart the plant in which the tech giant would purchase power from the plant for its AI and cloud infrastructure.

The Trump administration has sought to bolster nuclear energy, in addition to fossil fuels.

In a statement, Deputy Energy Secretary James Danly said the loan “marks another step in advancing America’s nuclear renaissance.”