Mentioned:
The Department of Energy is lining up more financing for nuclear power expansion in America.
What’s happening:
- The United States Department of Energy has given a conditional commitment for a loan of up to $4.2B USD to Vistra (NYSE: VST)
Why it matters:
- The new loan would be used by Vistra for life extensions and upgrades at their nuclear power facilities located in Pennsylvania and Ohio
Going deeper:
- Vistra has publicly stated that the upgrades to their nuclear power facilities would be able to generate roughly 433 megawatts of total new power capacity
- Vistra currently has existing long term power purchase agreements with Amazon (NASDAQ: AMZN) and Meta Platforms (NASDAQ: META) to provide them with nuclear power
The intrigue:
- The United States Department of Energy previously made waves when they awarded a $3.26B USD loan to American Electric Power (NASDAQ: AEP) to fund roughly 100 new grid projects located in Texas and 2,600 miles of transmission lines
