Funding supports plan to return Iowa plant by 2029
US utility NextEra Energy has finalised a loan agreement with the US Department of Energy (DOE) for up to $1.9bn (€1.63bn) to support the restart of the Duane Arnold nuclear power station in Iowa, the company said.
NextEra said the loan was agreed through the DOE’s Office of Energy Dominance Financing and marks a further step towards restarting Iowa’s only nuclear power plant.
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, US electric utility NextEra agreed to restart the Duane Arnold nuclear power station to primarily provide power to Google as the tech giant races to secure clean energy to drive its artificial intelligence data centres.
The company said that it planned 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 authorising construction and operation of Duane Arnold, NextEra said.
The restart is also subject to oversight by the US Nuclear Regulatory Commission and other federal, state and local agencies.
NextEra said an economic study estimated the restart could generate more than $9bn in economic benefits for Iowa over 25 years, support more than 400 permanent jobs and generate about $75m in tax revenue over the project life.
A recent report by the Iowa Nuclear Energy Task Force said the US state is well-positioned to be a leader in the growing nuclear industry, given its history of deploying new energy technologies, strong manufacturing base, workforce capabilities and leadership in the sector, including the planned restart of the Duane Arnold.
The task was was established by Iowa’s governor in January to evaluate opportunities for advancing nuclear energy technologies and infrastructure in Iowa and brought together representatives from utilities, power generation companies, local government and academia.
