The Energy Department offered Vistra a conditional loan commitment of up to $4.2 billion to upgrade three nuclear plants in Pennsylvania and Ohio, the latest federal push to get more power out of reactors already running. The money would fund uprates and modernization at Beaver Valley in Pennsylvania and Davis-Besse and Perry in Ohio, adding 433 megawatts of new capacity, preserving nearly 4 gigawatts of existing power and supporting 20 more years of operation beyond current licenses, according to the Department of Energy. The package also includes an option to finance future uprates at Vistra’s Comanche Peak plant in Glen Rose, Texas.
Nothing is final yet, since Vistra still has to meet technical, legal, environmental and financial conditions before money moves. The administration frames the loan as part of its push to rebuild the nuclear industrial base, while Reason questioned why Washington is picking projects when private investors are already pouring billions into nuclear. Vistra shares rose about 11% on the news, and alongside Google’s Constellation deal the same week, both bets run through plants that are already built.