US government loans $1.9bn to revive Iowa nuclear plant for Google data centres
UKPulse News Desk
NextEra Energy has received a $1.9 billion loan from the U.S. Department of Energy to refurbish an Iowa nuclear power plant, which Google previously stated it would bring back online.
- NextEra Energy received a $1.9 billion loan from the U.S. Department of Energy for the refurbishment of the Duane Arnold Energy Center.
- Google announced last October its intention to revive the Iowa nuclear power plant.
- The plant is expected to restart in 2029 and will have a total capacity of 615 megawatts after refurbishment.
NextEra Energy, the owner of an Iowa nuclear power plant, has secured a $1.9 billion loan from the U.S. Department of Energy. The funding is designated for the refurbishment of the facility, which Google stated last October it would bring back into operation.
The Duane Arnold Energy Center has been inactive since 2020 following damage from a rainstorm. The plant's restart is anticipated in 2029, with Deputy Secretary of Energy James Danly suggesting it will "drive down electricity costs."
Google is reportedly planning to construct up to six data centres near the Duane Arnold Energy Center. The refurbished plant is expected to generate 615 megawatts, an increase of 14 megawatts from its previous capacity.
Why this matters: The loan suggests a US government view of revived nuclear power as a key electricity source for tech companies powering AI data centres, with new data centres projected to nearly triple the sector's electricity demand by 2035.