DES MOINES, Iowa (Diya TV) — NextEra Energy has closed on a U.S. Department of Energy loan of up to $1.9 billion to help finance the restart of the Duane Arnold Energy Center, Iowa’s only nuclear power plant.
The 615-megawatt plant in Linn County is targeted to return to service in the first quarter of 2029, subject to approval from the U.S. Nuclear Regulatory Commission. Duane Arnold shut down in 2020 after about 45 years of operation.
NextEra announced plans to restart the facility in 2025 as part of an agreement with Google. Google signed a 25-year power purchase agreement for electricity from the plant to support its cloud and artificial intelligence operations in Iowa.
Central Iowa Power Cooperative is expected to purchase the remaining portion of Duane Arnold’s output under a separate agreement. NextEra has also agreed to acquire the minority ownership interests held by Central Iowa Power Cooperative and Corn Belt Power Cooperative, which would give NextEra full ownership of the plant.
The Energy Department said the federal loan will help finance work needed to return the facility to operation. The project remains dependent on regulatory approvals and completion of restart requirements.
Duane Arnold is one of several closed U.S. nuclear plants being considered for restart as electricity demand increases, including demand from data centers.
Holtec International is working to restart the 800-megawatt Palisades nuclear plant in Michigan after receiving a federal loan of up to $1.52 billion. NRC operating records showed Palisades remained offline during its restart process in 2026.
Constellation Energy is also working to restart the 835-megawatt Crane Clean Energy Center in Pennsylvania, formerly Three Mile Island Unit 1. The project received a $1 billion Energy Department loan and is backed by a long-term power agreement with Microsoft.
If Duane Arnold receives the required approvals, NextEra expects the plant to begin supplying electricity again by early 2029.
