Constellation Energy Loan Backs Three Mile Island Restart

Constellation Energy said on Nov. 18, 2025, that a $1 billion loan from the U.S. Department of Energy will fund the restart of Three Mile Island Unit 1, now renamed the Crane Clean Energy Center. The project, targeting commercial operation in 2027, is supported by a 20-year power-purchase agreement (PPA) with Microsoft.

DOE Loan Finalized Under Energy Dominance Program

The DOE finalized an interest-bearing loan to Constellation Energy at 4:15 p.m. ET on Nov. 18, 2025, under the Energy Dominance Financing Program. This program is part of a $250 billion energy infrastructure initiative authorized by Congress in 2022. Constellation said this loan was the first under the program to reach conditional commitment and financial close simultaneously. The company said the loan will lower financing costs and accelerate the restart. Joe Dominguez, Constellation’s president and CEO, called the DOE’s action a significant step toward adding reliable nuclear power to the grid.

Plant Output, Offtake, and Economic Impact

The Crane Clean Energy Center is expected to generate 835 megawatts of carbon-free baseload electricity, enough to power about 800,000 homes. That output is secured under a 20-year PPA with Microsoft to support its data centers. Constellation reiterated its target for commercial operation in 2027.

The company projects the restart will create roughly 3,400 direct and indirect jobs and generate about $16 billion in economic output and $3 billion in state and federal tax revenue for Pennsylvania. Regulatory reviews by the Nuclear Regulatory Commission and component inspections are ongoing. The restart depends on completing equipment restoration, regulatory approval, and grid integration.

The site is more than 80% staffed with over 500 employees in engineering, technical, and operations roles. Constellation has committed over $1 million in charitable giving over five years, including a $200,000 donation in 2025 to local workforce programs.