The U.S. Department of Energy (DOE) has finalized a loan of up to $1.9 billion to support NextEra Energy, Inc. (NYSE: NEE) in restarting the Duane Arnold Energy Center, a 615-megawatt nuclear facility in Linn County, Iowa.

The loan, issued through the DOE's Office of Energy Dominance Financing, reached both conditional commitment and financial close simultaneously. NextEra Energy announced plans in October 2025 to bring the plant back online no later than the first quarter of 2029, subject to regulatory approvals.

The Duane Arnold Energy Center operated for more than four decades before ceasing operations in 2020. It is the only nuclear plant in Iowa. In June, the Iowa Utilities Commission issued a certificate authorizing the construction and operation of the facility, a step NextEra Energy described as a milestone in the restart process.

A study cited in the press release estimated the restart could generate more than $9 billion in economic benefits for Iowa over 25 years, support more than 400 permanent jobs during operations, and produce approximately $75 million in tax revenue over the life of the project.

"Restarting Duane Arnold is about delivering new power to meet new demand while generating billions of dollars in economic value for Iowans," said John Ketchum, chairman, president and CEO of NextEra Energy.

U.S. Deputy Secretary of Energy James P. Danly said the restart would "return 615 megawatts of reliable baseload generation" and support thousands of American jobs.

NextEra Energy continues to conduct inspections, engineering evaluations, and readiness activities under the oversight of the U.S. Nuclear Regulatory Commission and other federal, state, and local agencies.