Energy Department offers Constellation $5 billion nuclear loan

The US Department of Energy has offered Constellation Energy a conditional loan commitment of up to $5 billion to finance uprates and modernization at eight nuclear plants in Illinois, Maryland and Pennsylvania, adding nearly 1.1 gigawatts of capacity.

Why it matters: Uprates are the fastest route to new firm power for the PJM and MISO grids, and the offer, the second large nuclear uprate financing this month, takes the Department's UPRISE program to 95 percent of its 5 gigawatt goal identified.

Data as of US Department of Energy release, published October 26 and updated October 27, 2026, read in full in this run; all loan, capacity and jobs figures are the Department's own. The commitment is conditional and no definitive financing documents have been signed. Developing item.

The Department of Energy’s Office of Energy Dominance Financing has announced a conditional loan commitment of up to $5 billion to finance nuclear uprates and modernization across Constellation Energy’s fleet in Illinois, Maryland and Pennsylvania, work the Department says will add nearly 1.1 gigawatts of electricity across the PJM and MISO grids and support more than 10,000 project-related jobs. The planned investments cover Braidwood, Byron, Clinton, Dresden, LaSalle and Quad Cities in Illinois, Calvert Cliffs in Maryland and Limerick in Pennsylvania, with an option to finance future uprate projects at additional Constellation facilities. The commitment indicates the Department’s intent to lend, but Constellation must still satisfy technical, legal, environmental and financial conditions before definitive financing documents are signed and the loan is funded.

Energy Department offers Constellation $5 billion nuclear loan

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