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illuminem summarizes for you the essential news of the day. Read the full piece on The Washington Post or enjoy below:
🗞️ Driving the news: Constellation Energy is seeking a $1.6 billion federal loan guarantee to reopen the Three Mile Island nuclear plant, with Microsoft as its sole customer
• The plant, shut down in 2019, will supply clean energy for Microsoft's data centers, crucial for its AI expansion
• This unprecedented deal raises questions about taxpayer risk and federal support for nuclear energy projects
🔭 The context: The Three Mile Island facility was the site of the worst nuclear accident in U.S. history in 1979
• Constellation's bid comes as Microsoft, like other tech giants, seeks large sources of zero-emissions energy to power its energy-intensive data centers
• The Energy Department has approved a similar loan for the Palisades plant in Michigan
🌍 Why it matters for the planet: Restarting nuclear plants like Three Mile Island could help meet growing energy demands while reducing reliance on fossil fuels, supporting the clean energy transition
• However, the project’s financial and environmental risks also raise concerns about long-term viability
⏭️ What's next: The U.S. Energy Department is reviewing the loan guarantee, and Constellation aims to restart the plant by 2028, possibly earlier
• Intensive safety inspections and regulatory approvals are critical hurdles before reopening
💬 One quote: "Climate-friendly data centers powered by nuclear energy are in the interest of all of us," said John Parsons, MIT energy economist
📈 One stat: The $1.6 billion loan guarantee could save Constellation up to $122 million in borrowing costs for the project
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