The U.S. Department of Energy plans to add 5 GW of new nuclear capacity by 2029 and has provided over $2.5 billion in loans and grants to support nuclear power plant restarts and fuel supply chains.
The U.S. Department of Energy (DOE) is actively promoting nuclear energy development, aiming to add 2.5 gigawatts (GW) of nuclear capacity by 2027 and 5 GW by 2029 through reactor upgrades, restarts, and extending the lifespan of existing power plants. To achieve this, the DOE has provided a $1.52 billion loan to Holtec for the restart of the 800-megawatt Palisades nuclear power plant in Michigan. Concurrently, Constellation Energy has received a $1 billion federal loan to restart the 835-megawatt Crane Clean Energy Center in Pennsylvania. Furthermore, the DOE has allocated $2.7 billion to expand domestic uranium enrichment capabilities, ensuring nuclear fuel supply.
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