DOE announces $175 billion financing package to build ten large nuclear reactors
Type: Financing · Technology: Nuclear · Country: United States · Announced: 2026-06-24
The U.S. Department of Energy announced a $175 billion financing package to support the construction of ten large nuclear reactors on June 24, 2026. The loan program targets projects from utilities including Dominion Energy, DTE Energy, WEC Energy Group, Public Service Enterprise Group and Entergy Corp., each slated to develop new nuclear capacity across the United States. The reactors are expected to be built over the next decade, with each project anticipated to add several gigawatts of clean power to the grid. The financing aims to accelerate the United States’ decarbonization goals by expanding nuclear generation, which provides reliable baseload electricity without carbon emissions. The loan guarantees will be structured with the Department of Energy as the lender and the utilities as borrowers, administered under the existing Title 17 loan authority. This announcement marks the largest federal commitment to new nuclear capacity in U.S. history.
Analysis
The U.S. Department of Energy announced a $175 billion financing package to support the construction of ten large nuclear reactors on June 24, 2026. Dominion Energy, DTE Energy, WEC Energy Group, Public Service Enterprise Group, and Entergy Corp. are the utilities slated to develop new nuclear capacity across the United States. Dominion Energy is a major utility company focused on providing electricity and natural gas services, while DTE Energy is a diversified energy company involved in the development and management of energy-related businesses and services nationwide. The loan guarantees will be structured with the Department of Energy as the lender and the utilities as borrowers, administered under the existing Title 17 loan authority. The reactors are expected to be built over the next decade, with each project anticipated to add several gigawatts of clean power to the grid.
Key points
- Financing package: $175 billion
- Number of reactors: 10
- Utilities involved: Dominion Energy, DTE Energy, WEC Energy Group, Public Service Enterprise Group, and Entergy Corp.
- Announcement date: June 24, 2026
- Expected construction timeline: over the next decade
Counterparties
- Dominion Energy (Borrower)
- Public Service Enterprise Group (Borrower)
- DTE Energy (Borrower)
- WEC Energy Group (Borrower)
- Entergy (Borrower)
- U.S. Department of Energy (Lender)