The loan was issued through the Department of Energy’s Loan Programs Office and funded through the Energy Dominance Financing Program.
MIDDLETOWN, Pa. — The reopening of Three Mile Island (TMI) as the Crane Clean Energy Center has received a boost with the announcement of additional financing from the federal government.
The U.S. Department of Energy announced on Tuesday that it had closed a loan to help finance the opening of the 835-megawatt nuclear power station.
Officials said the loan is being funded through the Energy Dominance Financing program created under the ‘One, Big, Beautiful Bill’ passed earlier this year. Energy Secretary Chris Wright said the program is part of the Trump administration’s efforts to lower energy costs through the restart of nuclear power plants.
Pending regulatory approval by the Nuclear Regulatory Commission, the plant is expected to open in 2027.
“The United States is taking unprecedented steps to lower energy costs and bring about the next American nuclear renaissance,” Wright said. “Constellation’s restart of a nuclear power plant in Pennsylvania will provide affordable, reliable, and secure energy to Americans across the Mid-Atlantic region. It will also help ensure America has the energy it needs to grow its domestic manufacturing base and win the AI race.”
The loan will help finance the restart of TMI’s Unit 1 reactor, which ceased operations in 2019 due to financial hardships. According to officials, once restarted, the plant will provide additional baseload power to the PJM Interconnection region, providing power equivalent to approximately 800,000 homes.
“DOE’s quick action and leadership is another huge step towards bringing hundreds of megawatts of reliable nuclear power onto the grid at this critical moment,” Constellation President and CEO Joe Dominguez said.
Pennsylvania lawmakers also applauded the announcement, including U.S. Sen. Dave McCormick. “Today’s loan by President Trump and the Department of Energy is great news as it helps Constellation advance the restart of the Crane Clean Energy Center, while creating 3,400 new jobs and more than 800 megawatts of carbon-free electricity operating 24/7 to meet our increasing energy demands and economic growth across the region,” McCormick said.
According to DOE officials, the plant is expected to employ up to 600 jobs, with up to 3,400 jobs being created either directly or indirectly through construction and testing.