The U.S. Department of Energy announced a conditional commitment of up to $5 billion to finance uprates and modernization at Constellation Energy nuclear plants in Illinois, Maryland and Pennsylvania. DOE said the planned projects would increase output from existing facilities by nearly 1.1 gigawatts.
The department said the investments would support more than 10,000 project-related jobs across the fleet and add enough electricity to serve more than 930,000 homes. The affected plants also supply businesses in the PJM and MISO regions, where reliability and power costs are important operating considerations.
The commitment is not a funded final loan. Constellation must still satisfy technical, legal, environmental and financial conditions before definitive financing documents are signed and any money is disbursed.
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