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Vinson & Elkins Represents NextEra in Securing DOE Loan of up to $1.9 Billion to Restart Iowa Nuclear Plant

Deals & Cases

September 9, 2026 • 1-minute read

Vinson & Elkins represented NextEra Energy, Inc in securing a U.S. Department of Energy (DOE) loan guarantee of up to $1.9 billion to support the restart, recommissioning, operation and maintenance of the Duane Arnold Energy Center, a nuclear power plant located in Linn County, Iowa.

DOE will issue a loan guarantee in favor of the Federal Financing Bank (FFB), which will purchase a promissory note from the borrower, DAEC Holdings, LLC, and make advances from time to time under a multi-draw term loan facility. The guaranteed loan is secured by first-priority liens under the security documents and is guaranteed by the sponsor, NextEra Energy Capital Holdings, Inc., pursuant to the sponsor guaranty. The sponsor guaranty is limited recourse, to be released upon satisfaction of the project completion date and other conditions. The first advance is expected in the fourth quarter of 2026. The maturity date is June 15, 2053.

The Vinson & Elkins team representing NextEra was led by Partners Eamon Nolan and Leila Ravi, with assistance from Associates Luis Salomon, Ben Wilken, Francesca Bell, and Elizabeth Flatley. Also assisting on the transaction were Partner Kaam Sahely and Associate Jake Silver; Partners Lauren Collins and Wendy Salinas and Counsel Lauren Meyers; Counsel Rajesh Patel and Associate Sean Dao; Partner Jennifer Cornejo and Senior Associate Kelly Rondinelli; Partner Joyce Adetutu and Senior Associate Frankie Velez and Counsel Heather Reynolds Johnson; Partner Jeff Jakubiak and Counsel Mike Malenfant; Partner Sean Becker and Counsel Alex Bluebond.

About Vinson & Elkins
For more than a century, Vinson & Elkins has provided outstanding client service across important industries that drive the global economy. Built on a strong culture of collaboration across 14 offices worldwide, V&E lawyers are committed to excellence, offering clients decades of legal experience in handling transactions, investments, projects and disputes across the globe. Learn more by visiting www.velaw.com or connect with us on LinkedIn.

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