CEG · 10-Q · 2026Q3 · Full report

DOE Nuclear Loan Guarantees

Constellation Energy Corp · 2026-11-09 · Importance 62 · Surprise 48

In November 2025, the DOE Office of Energy Dominance Financing guaranteed up to $1.0 billion for an unsecured Federal Financing Bank loan supporting the restart of the Crane Clean Energy Center; the loan matures in November 2055. No borrowings had been made under that guarantee as of the filing. In October 2026, Constellation signed a conditional DOE loan commitment for a guarantee of up to $5.0 billion to support uprates at various nuclear facilities, subject to execution of a loan agreement. The proposed uprate loan would have a 30-year term, with interest fixed at a 0.375% spread above comparable-maturity U.S. Treasuries upon each advance.

Key facts

• In November 2025, the DOE issued a guarantee for up to $1.0 billion for an unsecured Federal Financing Bank loan to support the restart of Crane Clean Energy Center; the loan matures in November 2055.
• The Crane Clean Energy Center loan interest rate is fixed upon each advance at 0.375% above comparable-maturity U.S. Treasuries, and no borrowings had been made as of the filing date.