Trump administration plans to provide up to 5 billions USD in loans to Constellation for upgrading nuclear reactors.

The Trump administration is considering providing up to $5 billion in financing to Constellation Energy for upgrading and modernizing the company’s nuclear reactor facilities in Illinois, Maryland, and Pennsylvania. The U.S. Department of Energy stated that, with the support of this conditional loan commitment, the relevant projects are expected to add nearly 1.1 gigawatts (GW) of electricity supply, which will help strengthen the power grid and reduce costs. U.S. Energy Secretary Granholm plans to announce this financing arrangement later on Tuesday at a nuclear power plant in Illinois. This nuclear power plant will supply electricity to Google. Granholm said in a statement, “The Department of Energy is accelerating President Trump's ‘Reviving American Nuclear Energy’ plan and fully unleashing the potential of our existing nuclear energy facilities.”