NextEra Energy finalized a $1.9 billion loan from the U.S. Department of Energy to restart the Duane Arnold Energy Center. This funding supports the revival of Iowa’s only nuclear power plant, which ceased operations in 2020.
The facility provides a 615-megawatt capacity to help meet rising electricity demand driven by data centers. The project expects to generate over $9 billion in economic benefits for the state of Iowa. These gains are projected to accrue over a 25-year period. The restart will also create hundreds of permanent jobs.
NextEra Energy targets the first quarter of 2029 for the plant to become fully operational. The timeline remains subject to final regulatory approvals from the Nuclear Regulatory Commission and other agencies.