DOE offers Vistra a $4.2 billion conditional loan for 433 MW of nuclear uprates

The Department of Energy has offered Vistra a conditional $4.2 billion loan for 433 megawatts of nuclear uprates at three existing plants, our records show. Perry, Davis-Besse and Beaver Valley would take the work.

The commitment is tied to Vistra's 2.6-gigawatt Meta agreement and would preserve roughly 4 gigawatts of PJM nuclear capacity. Funding awaits technical, legal, environmental and financial reviews, so the loan is an offer rather than a closed financing.

At 433 megawatts, the uprates amount to about a sixth of the 2.6-gigawatt Meta agreement, which suggests the three plants' existing output carries most of that obligation.

Google signed two Constellation Energy agreements totaling 3.6 gigawatts, our deal log shows. One is a 20-year nuclear contract covering 890 megawatts that enables $4.3 billion of Constellation equipment spending at 11 units. A second agreement runs 15 years and buys 2.7 gigawatts across PJM. No price was disclosed.

In both the Vistra and Constellation deals, capital goes to reactors that already hold licenses and grid connections rather than to new construction. Federal credit and hyperscaler offtake pay for that work.