US DOE gives Microsoft partner $1b loan to restart Three Mile Island reactor

The Trump administration announced a $1 billion loan for Constellation Energy to restart the Three Mile Island nuclear reactor. The reactor has been offline since 2019, and Microsoft will purchase the electricity it generates for the next two decades.

The refurbishment project is estimated to cost $1.6 billion and should be completed by 2028. Though the terms of the deal are undisclosed, analysts suggest Microsoft might pay around $110 to $115 per megawatt-hour, which is higher than renewable sources but cheaper than new nuclear plants. This reflects the growing interest in nuclear power among tech companies.