The Trump administration committed a $1 billion federal loan to Constellation Energy’s Crane Clean Energy Center, the former Three Mile Island Unit 1, in November 2025, framing the project as a national energy security priority. The loan adds to Constellation’s own $1.6 billion restart investment and the 20-year power purchase agreement with Microsoft announced in September 2024. The project now has committed funding across all capital layers.
The plant, which generated 835 MWe before Constellation shut it down in 2019 due to market economics, is being restarted under a new name and with significant infrastructure upgrades. The 20-year Microsoft PPA provided the revenue certainty that unlocked Constellation’s own capital commitment; the federal loan reduced the financing cost and provided political backing from a second consecutive administration. The 2027 restart target requires NRC approval of the license amendment alongside the physical recommissioning work.
The broader read: both the Biden and Trump administrations have supported nuclear restarts with federal capital, which reduces regulatory and political risk for similar projects. Constellation’s approach at Crane, combining a large tech company anchor offtaker with federal loan support, is the template other restart candidates will try to replicate. For AI-infrastructure investors specifically, the Microsoft-Crane deal set the proof-of-concept that large-scale carbon-free baseload can be contracted directly to hyperscalers outside the traditional utility structure.