The Three Mile Island Nuclear Power Plant Lands Billion Dollar Loan

One of America’s most historic nuclear power plants is getting a new billion dollar cash injection. And the Department of Energy is behind it.

What’s happening:

• Constellation Energy (NASDAQ: CEG) has landed a new $1B USD loan commitment from the United States Department of Energy to restart the Three Mile Island nuclear power plant located in Pennsylvania
  

Why it matters:‍

• This is one of the single largest loans that the Department of Energy has ever committed to for restarting a formerly operational nuclear power plant
  

Going deeper:‍

• The new loan agreement between Constellation Energy and the Department of Energy gives Constellation Energy three decades to repay the loan in full and is fully secured against physical assets owned by Constellation Energy
  
• Microsoft (NASDAQ: MSFT) previously made waves when they committed to purchasing all the available power being generated at the Three Mile Island plant for two decades after it begins operating
  

The fine print:‍

• The Three Mile Island nuclear power plant is not expected to be operational for at least two more years and still needs to receive multiple different federal regulatory approvals