Constellation rises on federal loan for Three Mile Island restart
Constellation Energy got a boost after the federal government said it will extend $1 billion in financing to the effort to restart the mothballed Three Mile Island nuclear plant, with shares in the company up 3% as of 4:45 a.m. ET on Wednesday.
Constellation Energy, which owns the largest fleet of nuclear power plants in the US, announced in September 2024 that it planned to restart a reactor at the site as part of a 20-year deal to supply power to Microsoft’s AI data center division.
The loan will go to help cover some $1.6 billion in costs associated with restarting a reactor that closed in 2019 after being deemed too costly to run.
In March 1979, Three Mile Island was the site of the nation’s worst-ever commercial nuclear accident when its Unit 2 reactor — separate from the unit Constellation plans to restart — suffered a partial core meltdown.
The loan will go to help cover some $1.6 billion in costs associated with restarting a reactor that closed in 2019 after being deemed too costly to run.
In March 1979, Three Mile Island was the site of the nation’s worst-ever commercial nuclear accident when its Unit 2 reactor — separate from the unit Constellation plans to restart — suffered a partial core meltdown.
