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Biden offers $1.2 billion to nuclear plants at risk of closure

  • 1 year, 4 months ago (2023-03-03)
  • David Flin
North America 1004 Nuclear 644

President Biden of the USA has offered $1.2 billion of funding to support nuclear power generation and the goal of zero-carbon electricity by 2035. The funding is to support reactors that are at risk of retiring soon or that have ceased operations since 15 November 2021.

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The US Department of Energy (DOE) has released application guidance for the second award cycle of the Civil Nuclear Credit Programme, a $6 billion funding part of the Bipartisan Infrastructure Law to prevent the premature retirement of nuclear reactors across the USA.

In the first award cycle, nuclear power plants eligible for the funding were limited to owners or operators of reactors that had announced intentions to retire within the four-year award period. The second round of funding makes funds available to reactors that ceased operations after 15 November 2021.

The Energy Department said: “As the nation’s largest source of carbon free energy, nuclear energy is critical to meeting the President’s goal of achieving 100 per cent clean electricity by 2035.”