NextEra Energy, DOE Close on $1.9 Billion Loan for Nuclear Power Plant in Iowa
By Connor Hart
NextEra Energy said it reached a deal with the U.S. Department of Energy, closing on a loan of up to $1.9 billion to support the restart of the company's Duane Arnold Energy Center in Iowa.
The deal--completed through the Energy Department's Office of Energy Dominance Financing--marks a step toward restoring Iowa's only nuclear plant and adding reliable, around-the-clock energy to the regional grid, NextEra said Tuesday.
The Duane Arnold Energy Center is a 615-megawatt nuclear facility in Linn County, Iowa. The plant's restart is expected to create substantial economic benefits for Iowa and the surrounding region, NextEra said.
NextEra last October announced plans to restart the Duane Arnold Energy Center by the first quarter of 2029, pending regulatory approvals.
"By bringing new generation online to serve new demand, we can strengthen the grid, create hundreds of good-paying jobs and help ensure Iowa families and businesses are not asked to bear the costs of growth," Chief Executive John Ketchum said.
"We appreciate the Administration's leadership in advancing America's nuclear renaissance and share its commitment to an all-of-the-above energy strategy that expands supply, strengthens energy security and keeps America competitive," he added.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
September 08, 2026 08:44 ET (12:44 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States