The Trump administration announced Tuesday it would provide Constellation Energy with a $1 billion loan to restart a nuclear reactor at Three Mile Island.

The energy company said last year it would reopen the reactor , which had been shuttered since 2019, after Microsoft committed to purchasing all the electricity from the 835 megawatt power plant for two decades. Constellation estimated the project would cost $1.6 billion, and it expects to complete the refurbishment in 2028.

Terms of Microsoft’s deal with Constellation weren’t disclosed. Analysts at Jefferies have estimated the tech company might be paying about $110 to $115 per megawatt-hour over 20 years of the deal.

That’s cheaper than a brand new nuclear power plant would cost, but it’s a hefty premium over wind, solar, and ge

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