WASHINGTON — The Department of Energy announced Tuesday the financial close of a $1.9 billion loan to NextEra Energy to restart the Duane Arnold Energy Center in Linn County, Iowa, the state's only nuclear power plant.
The investment aligns with President Trump's energy dominance agenda and an executive order to reinvigorate the nuclear industrial base. Deputy Secretary of Energy James P. Danly said the restart "marks another step in advancing America's nuclear renaissance."
The plant will add 615 megawatts of reliable baseload power to the grid—enough to supply nearly 500,000 homes. Officials say the project will lower electricity costs in the region and help meet growing demand across Iowa and the Midwest.
The restart is projected to create nearly 1,500 jobs during construction and more than 450 permanent jobs once operational.
The Trump administration is pursuing a broader nuclear strategy that includes restarting existing reactors, increasing output from the current fleet, and accelerating new construction. Gregory A. Beard, director of the Office of Energy Dominance Financing, said the investment exemplifies the administration's commitment. "Duane Arnold is exactly the kind of investment that will help restore American nuclear leadership, strengthen our energy security, and deliver the affordable, reliable power Americans need," he said.
The Duane Arnold Energy Center closed in 2020. Its return to service remains pending licensing approvals from the U.S. Nuclear Regulatory Commission.
With this loan, the Office of Energy Dominance Financing has now financed three nuclear plant restarts and completed four concurrent conditional commitments under the Trump administration.
