Three Mile Island’s $1 Billion Restart: Nuclear, AI Power

News summary

The U.S. Department of Energy is lending Constellation Energy $1 billion to restart the 835 MW nuclear reactor at the former Three Mile Island site in Pennsylvania, now the Crane Clean Energy Center. The plant, shut since 2019, is backed by a 20-year power deal with Microsoft to supply electricity for its AI data centres, with restart targeted around 2027.

This is a clear policy signal: Washington is willing to use cheap federal loans to revive existing nuclear capacity to meet growing power demand from AI and data centres.

Winners

Nuclear utilities and power producers

Constellation Energy – $CEG

Vistra – $VST

Why they benefit:

$CEG gets direct support via the $1 billion loan plus long-term contracted ...