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DOE to offer $12.6 billion for nuke projects

The Department of Energy (DOE) is drafting a solicitation to provide as much as $12.6 billion in loan guarantees for nuclear energy projects.

The goal of the loan guarantees is to commercialize advanced nuclear technologies that could not otherwise get financing for research and development.

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Any nuclear project that would reduce or avoid greenhouse gas emissions is eligible, but DOE said it is particularly interested in advanced nuclear reactors, small modular reactors, upgrades at existing facilities and front-end nuclear projects.

“For the first time in more than 30 years, new nuclear power plants are under construction in the United States,” Energy Secretary Ernest MonizErnest MonizFederal task force recommends safety upgrades for gas storage Energy secretary: ‘We got it right’ on Iran deal Overnight Energy: Trump visits Flint | GOP chairman defends subpoenas in climate probe MORE said in a Tuesday statement.

“This solicitation would build on that investment and help support the construction of the next generation of safe and secure nuclear energy projects.”

DOE said the loans align with the Obama administration’s “all-of-the-above” approach to energy as well as the goal of reducing greenhouse gas emissions.

Officials released a draft solicitation for the projects Tuesday. It will take comments on the draft for 30 days before writing a final version.