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Oct. 29, 2026 11:06AM PST
The DOE says the projects will add enough power for more than 930,000 homes and support more than 10,000 project-related jobs.
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The US Department of Energy has offered Constellation Energy (NASDAQ:CEG) up to US$5 billion to bring nearly 1.1 gigawatts of additional output from eight of its existing nuclear plants in Illinois, Maryland and Pennsylvania.
In its announcement, the department’s Office of Energy Dominance Financing said that the conditional loan commitment would finance uprates and modernization at Braidwood, Byron, Clinton, Dresden, LaSalle and Quad Cities in Illinois, Calvert Cliffs in Maryland and Limerick in Pennsylvania.
The commitment also includes an option to finance future uprates at additional Constellation facilities.
Constellation must still meet technical, legal, environmental and financial conditions before the department signs definitive financing documents and funds the loan.
The financing falls under President Donald Trump’s executive order on Reinvigorating the Nuclear Industrial Base, which calls for the DOE to facilitate 5 gigawatts of uprates at existing reactors.
The department launched its Utility Power Reactor Incremental Scaling Effort in March and says it has so far identified 95 percent of the 5 gigawatt uprate and restart goal.
“The Energy Department is accelerating President Trump’s American nuclear renaissance and unlocking the full potential of our nation’s nuclear fleet,” Energy Secretary Chris Wright said.
Anfield receives draft license for Utah uranium mill
Further up the fuel supply chain, Anfield Energy (TSXV:AEC,NASDAQ:AEC) has moved closer to reactivating its Shootaring Canyon Mill in Garfield County, Utah.
The mill is one of only three licensed, permitted and constructed conventional uranium mills in the US.
Utah’s Division of Waste Management and Radiation Control sent the company draft versions of a renewed radioactive materials license and a groundwater discharge permit for the mill on October 21, Anfield said on Tuesday (October 27). An Anfield subsidiary applied for the renewal in April 2024.
As drafted, the license would cap production at 1,500 tons, or 3 million pounds, of yellowcake per year. It would also require Anfield to maintain a financial surety and a valid groundwater discharge permit at all times. The terms could still change before a final decision.
Anfield expects the documents to be ready for public notice around the end of 2026. A 45-day comment period would follow, starting in late 2026 or early 2027. The division sets that timetable.
If it receives the renewed license, Anfield is targeting the start of major refurbishment work in the second quarter of 2027. Its plans include 1,000 tons per day of throughput and a new vanadium circuit.
“Our goal remains to restore domestic conventional uranium and vanadium milling capacity in the United States,” CEO Corey Dias said.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
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Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics.
When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
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