The Trump administration on Oct. 5 announced a loan commitment of up to $4.2 billion to finance one of the largest U.S. power producers, Vistra Corp., in its modernization and expansion of three existing nuclear power plants in Pennsylvania and Ohio.
The work will preserve approximately 4 gigawatts of existing baseload power currently provided by the three plants, which is enough to power more than 3 million homes in the region.
An addition of 433 megawatts in capacity will help meet power supply needs of the massive 1-gigawatt Prometheus data center complex belonging to Facebook’s parent company Meta.
The conditional commitment, made through the Department of Energy’s Office of Energy Dominance Financing (EDF) on Oct. 5, is a promise to supply the loan with a structured debt agreement that the company must repay with interest….