10/03/2024

Three Mile Island Owner Seeks Taxpayer Backing for Microsoft AI Deal

The U.S. Energy Department is weighing a $1.6 billion loan guarantee

The owner of the shuttered Three Mile Island nuclear plant is pursuing a $1.6 billion federal loan guarantee to help finance its plan to restart the Pennsylvania facility and sell the electricity to Microsoft to power data centers, according to details of the application shared with The Washington Post.

The taxpayer-backed loan could give Microsoft and Three Mile Island owner Constellation Energy a major boost in their unprecedented bid to steer all the power from a U.S. nuclear plant to a single company.

Microsoft, which declined to comment on the bid for a loan guarantee, is among the large tech companies scouring the nation for zero-emissions power as it seeks to build data centers. It is among the leaders in the global competition to dominate the field of artificial intelligence, which consumes enormous amounts of electricity.

Please select this link to read the complete article from The Washington Post.