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NextEra, DOE Close $1.9B Loan for Iowa Nuclear Restart

Wall Street Journal US Business •
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NextEra Energy closed a loan deal with the U.S. Department of Energy worth up to $1.9 billion to support the restart of the Duane Arnold Energy Center in Iowa. The 601-MW Duane Arnold boiling water reactor plant in Linn County was shut down in 2020 after more than four decades in commercial operation. In October 2025, NextEra agreed to restart the facility to primarily provide power to Google as the tech giant races to secure clean energy for its artificial intelligence data centers. The company plans to restart Duane Arnold no later than the first quarter of 2029, subject to regulatory approvals. In June, the Iowa Utilities Commission issued a certificate authorizing construction and operation of Duane Arnold. The restart is also subject to oversight by the U.S. Nuclear Regulatory Commission and other federal, state, and local agencies. NextEra said an economic study estimated the restart could generate more than $9 billion in economic benefits for Iowa over 25 years, support more than 400 permanent jobs, and generate about $75 million in tax revenue over the project life. A recent report by the Iowa Nuclear Energy Task Force said the state is well-positioned to lead the growing nuclear industry, given its history of deploying new energy technologies, strong manufacturing base, workforce capabilities, and leadership in the sector.

The task force was established by Iowa's governor in January to evaluate opportunities for advancing nuclear energy technologies and infrastructure in Iowa. It brought together representatives from utilities, power generation companies, local government, and academia.

The restart of Duane Arnold reflects growing interest in nuclear power as a reliable clean energy source to support energy-intensive operations such as AI data centers.

NextEra Energy's initiative aligns with broader federal and state efforts to revitalize the U.S. nuclear sector and meet rising electricity demand from technology companies.