Trump administration backs Three Mile Island nuclear restart with $1 billion loan to Constellation

Core Insights - The Trump administration is providing Constellation Energy with a $1 billion loan to restart the Crane Clean Energy Center nuclear plant in Pennsylvania, previously known as Three Mile Island Unit 1, which is expected to generate power again in 2027 [1][2] - The project has an estimated total cost of $1.6 billion, with the loan covering the majority of this amount [3] - The restart of the plant is part of a power purchase agreement with Microsoft to support its data center demand in the region [1] Company Overview - Constellation Energy is the largest operator of nuclear plants in the U.S. and has previously hinted at the possibility of federal financial support for the project [4] - The first advance of the loan is expected in the first quarter of 2026, with a guarantee from Constellation to protect taxpayer money [3] Industry Context - The Crane Clean Energy Center's restart is significant as it aims to lower electricity costs for consumers on the grid operated by PJM Interconnection, which serves over 65 million people across 13 states [5] - The administration emphasizes the importance of supporting affordable, reliable, and secure energy in the U.S., with the loan expected to lower the cost of capital and make power cheaper for PJM ratepayers [6]