Diablo Canyon Power Plant — 2,256 MW nuclear (Units 1+2), Avila Beach CA
DOE conditionally awards $1.1B to PG&E's Diablo Canyon under Civil Nuclear Credit Program (IIJA-funded). Prevents Units 1+2 retirement (2024/2025). 16 TWh/year, ~15% of CA clean energy. 1,500 jobs preserved. First CNC award. Finalized January 17, 2024.
$1.10B
Deal Value
2,256MW
Capacity
Nuclear
Technology
CA
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Pacific Gas and Electric (PG&E)
- Buyer / Financier
- U.S. Department of Energy (Civil Nuclear Credit Program)
- Deal Value
- $1.1B conditional (paid 2023-2026); finalized Jan 17, 2024
- Stage
- Operating
- ISO/RTO
- CAISO
Related Deals
Solar Landscape distributed/community solar warehouse facility — anchors 146 MW community solar portfolio across New Jersey, Illinois, Maryland, and Minnesota
Solar Landscape → First Citizens Bank
$600M
Moment Energy Series B — capitalizes North American second-life EV battery storage factory (the company has stated it will be the world's largest second-life battery factory)
Moment Energy → Evok Innovations (lead); Liberty Mutual Investments; W23 Global; Acario (Tokyo Gas CVC); existing investors: Amazon Climate Pledge Fund, Voyager Ventures, In-Q-Tel
$40M
CTECS 7-school solar portfolio — 4.7 MW total across 7 Connecticut technical high schools (Cheney 757 kW, Kaynor 449 kW, Prince 171 kW, Eli Whitney 833 kW, Emmett O'Brien 898 kW, Henry Abbott 657 kW, H.H. Ellis 959 kW); rooftop + carport behind-the-meter solar serving the state trade-school system
Verogy → Connecticut Green Bank
$5.4M projected lifetime energy savings to CTECS
Iron Spur Solar — 140 MWdc utility-scale solar PV, Snyder, Scurry County, Texas (ERCOT); ~317 GWh/yr expected production
Energea (CT Solar One, LLC SPV) → Energea (Solar in the USA Portfolio — secured convertible loan)
$5M (initial $762K advanced)
Cottage Grove BESS — 80 MW / 320 MWh standalone battery energy storage co-located with the 265 MW Cottage Grove cogen plant in MISO Zone 1, Minnesota
PanCentral / CGC Holdings → QIC
$33M
Sunrun 2026-1 — $584M residential solar + storage ABS backed by 38,706 customer leases & PPAs across 19 states + DC + Puerto Rico; A-1 notes priced at 220 bps spread (20 bps tighter than 2025 transactions)
Sunrun Inc. → Atlas SP (sole structuring agent + joint bookrunner); BofA Securities, MUFG, Truist Securities (joint bookrunners); ING (co-manager)
$584M
Get deals like this in your inbox
Free weekly clean energy deal intelligence. Every Monday.