The U.S. Department of Energy announced a conditional commitment for a loan of up to $4.2 billion to finance Vistra nuclear-plant uprates and modernization work in Pennsylvania and Ohio. The package covers the Beaver Valley, Davis-Besse and Perry facilities.

DOE estimates that the projects would preserve nearly four gigawatts of existing generation, add 433 megawatts of capacity and support about 3,000 project jobs. The company also plans to seek operating extensions that could keep the plants in service for an additional 20 years beyond their current licenses.

The financing structure includes an option that could support future uprates at the Comanche Peak plant in Texas. That option does not mean the Texas work has been approved or funded, and individual plant changes remain subject to applicable licensing and project decisions.

A conditional commitment is not a final loan closing. DOE said technical, legal, environmental and financial conditions must be satisfied before definitive documents are completed and funds can be disbursed.