The Trump administration has announced a significant step toward reviving the Crane Clean Energy Center nuclear plant in Pennsylvania, previously known as Three Mile Island Unit 1. Department of Energy officials revealed on Tuesday that Constellation Energy will receive a $1 billion loan to facilitate the plant’s restart, with power generation anticipated to resume by 2027.
This initiative aligns with Constellation’s plan, introduced in September 2024, to rename and reactivate the reactor to meet the growing energy demands of Microsoft’s data centers in the region. Three Mile Island Unit 1 had been offline since 2019, part of a trend where numerous reactors have closed due to increased competition from cheaper natural gas.
The investment marks a crucial moment for the plant, which has a tumultuous history, notably being situated alongside the site of the 1979 partial meltdown at Three Mile Island Unit 2, the most severe nuclear incident in U.S. history. The funding will cover a significant portion of the project’s estimated $1.6 billion cost, with the first loan disbursement expected in early 2026.
Greg Beard, senior advisor to the Energy Department’s Loan Programs Office, emphasized the safety of taxpayer investments, stating that there are guarantees in place from Constellation to ensure financial protection. Following the announcement, Constellation’s stock saw an increase of more than 2% in after-hours trading.
This development reflects a renewed interest in nuclear energy and its potential role in meeting future energy requirements, underscoring an optimistic shift towards sustainable energy solutions. As such, the revival of the Crane Clean Energy Center could significantly impact the regional energy landscape, setting a hopeful precedent for other nuclear facilities in the United States.