U.S. Secretary of Energy Chris Wright on Nov. 18 announced the Department of Energy’s (DOE) Loan Programs Office (LPO) closed a loan to restart a Pennsylvania nuclear power plant.
The $1 billion loan to Constellation Energy Generation, LLC will help finance the Crane Clean Energy Center, an 835 MW plant located on the Susquehanna River in Londonderry Township, Pennsylvania.
The announcement, "funded by the Energy Dominance Financing (EDF) Program created under the Working Families Tax Cut, highlights the Energy Department’s role in advancing President Trump’s Executive Order, Reinvigorating the Nuclear Industrial Base, by supporting the restart of nuclear power plants," DOE said.
This announcement marks the first project to receive a concurrent conditional commitment and financial close under the Trump Administration.
The loan will partially finance the restart of a reactor which ceased operations in 2019 but was never fully decommissioned.
Once restarted, pending U.S. Nuclear Regulatory Commission licensing approvals, the 835 MW reactor will provide reliable and affordable baseload power to the PJM Interconnection region, DOE said.
