“The facility’s owner, NextEra Energy, has received a $1.9 billion loan from the U.S. Department of Energy to finance the refurbishment.”
A federal loan refurbishes the Duane Arnold nuclear plant so Google can bolt up to six data centers onto the grid next to it. The local Iowa power co-op gets 50 megawatts as a consolation prize. Taxpayers backstop the financing risk, Google locks in cheap firm power for AI training, and NextEra gets a subsidized asset regardless of how the AI buildout plays out.