Trump DOE gives Microsoft partner $1B loan to restart Three Mile Island reactor

The Trump administration announced a $1 billion loan through the Department of Energy’s Loan Programs Office (LPO) to Constellation Energy to restart the Unit 1 nuclear reactor at Three Mile Island, which has been offline since 2019. Constellation plans to refurbish the 835-megawatt plant by 2028 at an estimated cost of $1.6 billion. This project follows Microsoft’s commitment to purchase all electricity generated by the plant for 20 years, although the financial terms of this deal remain undisclosed. While the refurbishment cost is lower than building a new nuclear plant, it is still significantly higher than renewable energy sources like wind, solar, and geothermal, even when those renewables include battery storage for continuous power. The Three Mile Island Unit 1 reactor is distinct from the infamous Unit 2, which suffered a meltdown in 1979. The loan is part of the LPO’s broader mission to support clean energy technologies, a program established under the Energy