US DOE Loans Vistra $4.2B for Nuclear Uprates Linked to Meta Power Deal

The US Department of Energy is providing up to $4.2B in conditional loans to Vistra for modernization and upgrades at the Perry, Beaver Valley, and Davis-Besse nuclear plants in Ohio and Pennsylvania. The upgrades will add 433 MW of capacity and extend the operations of roughly 4 GW of power through new credit facilities. Meta has signed 20 year power purchase agreements for 2,609 MW of electricity, comprising 2,176 MW of existing capacity and all the planned expansion, with the first purchases of existing power starting in late 2026.