The Biden administration is launching a $6 billion effort to rescue nuclear power plants at risk of closing, citing the need to continue nuclear energy as a carbon-free source of power that helps to.
A certification and bidding process opened Tuesday for a civil nuclear credit program that is intended to bail out financially distressed owners or operators of nuclear power reactors, the U.S. Department of Energy told The Associated Press exclusively, shortly before the official announcement. It’s the largest federal investment in saving financially distressed nuclear reactors.
Owners or operators of nuclear power reactors that are expected to shut down for economic reasons can apply for funding to avoid closing prematurely. The first round of awards will prioritize reactors that have already announced plans to close.