Constellation Secures $1 Billion DOE Loan to Advance Crane Clean Energy Center, Adding Major Nuclear Generation Capacity to the U.S. Grid
Constellation (NASDAQ: CEG) announced a major milestone today with confirmation that the U.S. Department of Energy (DOE) has finalized a $1 billion loan to support the development and restart of the Crane Clean Energy Center. The funding, provided through the DOE’s Energy Dominance Financing Program under the Loan Programs Office, represents a significant federal endorsement of Constellation’s strategy to restore and expand nuclear energy generation in the United States. Notably, this is the first instance in which the DOE has simultaneously completed a conditional loan commitment and reached financial close, a process typically separated by months. This accelerated approval reflects DOE’s confidence in Constellation’s financial strength, creditworthiness, and long-standing operational track record.
The loan is designed as an interest-bearing, market-based instrument, aimed at lowering Constellation’s overall cost of financing while encouraging private capital participation. As Constellation presses forward with upgrading and restarting the reactor at the Crane facility, the loan will play a central role in enabling the company to deliver new baseload nuclear generation—totaling more than 835 MW—to support growing national electricity demand. As the United States experiences rapid load growth from industrial electrification, surging AI compute infrastructure, and the expansion of digital services, federal officials view nuclear energy as a critical anchor resource that provides reliability, resilience, and carbon-free power around the clock.
Joe Dominguez, president and CEO of Constellation, praised the DOE’s rapid decision-making and collaborative approach. “DOE’s quick action and leadership is another huge step towards bringing hundreds of megawatts of reliable nuclear power onto the grid at this critical moment,” Dominguez said. He noted that under the Trump administration, the Federal Energy Regulatory Commission (FERC) and the DOE have created a more efficient and predictable regulatory environment, enabling Constellation to expedite the restart of the Crane facility without compromising the rigorous safety and quality requirements inherent in nuclear operations.
According to Dominguez, the Crane project demonstrates how “America First” energy policies can accelerate infrastructure development, strengthen grid reliability, and spur economic growth. He emphasized that many utilities and grid operators still lag behind the urgency required to meet the nation’s escalating electricity needs, urging regulatory bodies to adopt reforms that unlock “America’s abundant energy potential.”
Senator Dave McCormick of Pennsylvania also welcomed the DOE’s decision, highlighting its importance for regional economic development and energy leadership. “Pennsylvania is leading America’s energy independence and the AI revolution by providing safe, clean, reliable nuclear power,” McCormick said. He applauded the Trump administration and the DOE for backing the project, noting that the restart of the Crane Clean Energy Center will generate 3,400 direct and indirect jobs and supply more than 800 megawatts of carbon-free, 24/7 electricity—capacity that is increasingly essential to serve both traditional consumers and the rapidly growing digital economy.
McCormick added that Constellation’s long-term commitment to Pennsylvania is evident not only through the Crane project but also through recent investments highlighted at the Pennsylvania Energy and Innovation Summit. With data center growth accelerating across the Mid-Atlantic and significant power needs emerging in manufacturing, transportation, and AI development, new energy infrastructure has become a top priority across the region.
The timing of the Crane restart aligns with an unprecedented shift in national electricity consumption patterns. Electrification of vehicles, buildings, and industrial processes—combined with explosive demand for data processing, cloud computing, and artificial intelligence—has positioned reliable baseload generation as a strategic necessity. Nuclear energy, with its ability to operate continuously at high output, is uniquely suited to meet these needs. The DOE’s support reinforces growing bipartisan recognition that existing and advanced nuclear resources are essential to safeguarding U.S. economic competitiveness and ensuring resilient, low-carbon power delivery.
An economic impact analysis commissioned by the Pennsylvania Building & Construction Trades Council highlights the substantial benefits of the Crane project. The study found that reactivating the reactor will help stabilize regional electricity prices, create thousands of jobs, and generate more than $16 billion in economic output for Pennsylvania’s GDP over the course of the project. In addition, it is projected to deliver over $3 billion in combined state and federal tax revenues. These figures underscore the significance of nuclear energy as both an economic development catalyst and a major contributor to long-term grid reliability.
Staffing and preparatory work at the Crane Clean Energy Center are already well underway. Constellation reports that the project is more than 80% staffed, with over 500 employees currently on-site, including engineers, technicians, mechanics, and licensed operator trainees. Inspections of key systems, component testing, and regulatory reviews by federal and state authorities are proceeding according to schedule. The company continues to invest heavily in safety, workforce readiness, and plant modernization to ensure that the facility meets all standards before returning to operational status.
Constellation has also emphasized its commitment to supporting the surrounding communities. The company has pledged over $1 million in charitable contributions over a five-year period to local organizations, workforce programs, and community development initiatives. In 2025 alone, Constellation has donated $200,000 to more than a dozen nonprofits and local training programs aimed at preparing residents for careers in the energy sector.
The launch of the Crane Clean Energy Center forms part of Constellation’s broader multi-billion-dollar initiative to strengthen and expand the nation’s largest nuclear fleet. The company is actively investing in life extension projects, equipment upgrades, and operational enhancements across multiple nuclear facilities. These upgrades will increase output, ensure continued safe operation for decades, and support the growing national requirement for dependable, carbon-free generation.
With the DOE’s $1 billion loan now finalized and work progressing steadily, Constellation is positioned to bring major new nuclear capacity online at a time when reliability, economic competitiveness, and technological leadership are at the forefront of U.S. energy policy. The Crane Clean Energy Center represents not only an infrastructure investment, but also a strategic step in securing America’s energy future and supporting the powerful digital and industrial systems that will define the next generation of economic growth.
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