U.S. Secretary of Energy Chris Wright announced on November 18 that the Department of Energy’s Loan Programs Office has finalized a $1 billion loan to help lower energy costs and restart a Pennsylvania nuclear power plant. The funding will support Constellation Energy Generation, LLC in financing the Crane Clean Energy Center, an 835 MW facility located on the Susquehanna River in Londonderry Township, Pennsylvania. This loan marks a major step toward restoring reliable, carbon-free power to the region.

Energy Secretary Wright highlighted further,

“Thanks to President Trump’s bold leadership and the Working Families Tax Cut, the United States is taking unprecedented steps to lower energy costs and bring about the next American nuclear renaissance. Constellation’s restart of a nuclear power plant in Pennsylvania will provide affordable, reliable, and secure energy to Americans across the Mid-Atlantic region. It will also help ensure America has the energy it needs to grow its domestic manufacturing base and win the AI race.”

Constellation (Nasdaq: CEG) is the first company to receive a simultaneous conditional loan commitment and financial close from the DOE Loan Programs Office. Its strong finances and credit rating allowed the process to move quickly. The loan, provided through the Energy Dominance Financing Program, will lower financing costs and attract private investment to restart the plant. In addition, DOE noted the project will help the U.S. stay competitive in the global AI and digital economy, which is driving higher electricity demand.

Crane Clean Energy Center: Returning 835 MW of Carbon-Free Power

The Crane Clean Energy Center is an 835-megawatt nuclear plant on the Susquehanna River. Previously known as Three Mile Island Unit 1, it has a long and historic legacy. In March 1979, Three Mile Island Unit 2 suffered a partial meltdown and has remained in monitored storage ever since. Unit 1, however, continued operating safely for four decades before being shut down in September 2019 due to market conditions rather than safety concerns.

In September 2024, Constellation signed a 20-year power purchase agreement with Microsoft, which allows the tech giant to buy the carbon-free electricity generated by the restarted plant. Following the agreement, Constellation rebranded the facility as the Crane Clean Energy Center. As said before, once operational, the plant will provide 835 MW of nuclear energy.

DOE Loan Accelerates the Restart

Constellation (Nasdaq: CEG) is the first company to receive a simultaneous conditional loan commitment and financial close from the DOE Loan Programs Office. Its strong finances and credit rating allowed the process to move quickly. The loan, provided through the Energy Dominance Financing Program, will lower financing costs and attract private investment to restart the plant. In addition, DOE noted the project will help the U.S. stay competitive in the global AI and digital economy, which is driving higher electricity demand.

DOE stated that the Crane loan aligns with President Trump’s Executive Order on Reinvigorating the Nuclear Industrial Base. The project is the first under this administration to receive a simultaneous conditional commitment and financial close.

Because the reactor was never fully decommissioned, restarting it is faster and more cost-effective than building a new plant. The loan will fund equipment inspections, system upgrades, workforce training, and regulatory compliance. Once approved by the Nuclear Regulatory Commission, the plant will supply enough electricity to power about 800,000 homes across the PJM Interconnection region. It will help lower electricity costs, strengthen grid reliability, and create hundreds of jobs.

READ MORE:

• Constellation Secures Groundbreaking $1 Billion Clean Nuclear Energy Deal with Federal Government 
• Constellation and Calpine’s $16.4B Deal Boosts U.S. Clean Energy Transition 

Pennsylvania Leads in Clean Energy and AI Power

Senator Dave McCormick praised the DOE loan, saying Pennsylvania is leading the nation in energy independence and AI innovation. He highlighted that the restart will deliver more than 800 MW of carbon-free electricity and create 3,400 direct and indirect jobs.

McCormick also noted Constellation’s ongoing investments across the state, including commitments announced at the Pennsylvania Energy and Innovation Summit. The restart comes amid unprecedented electricity demand from AI, cloud computing, and expanding data centers.

A Goldman Sachs report predicts that AI could increase data-center power demand by 160 percent. AI queries, like those used by tools such as ChatGPT, require nearly ten times more electricity than a standard Google search. Nuclear power is vital to meet this growing demand reliably.

• ALSO READ: U.S. DOE Backs 11 Advanced Nuclear Reactors Under Trump’s Fast-Track Pilot Program 

Extending Nuclear Plant Life: Constellation’s Strategy for Reliable Power

Constellation has invested in local communities by committing over $1 million in charitable contributions over five years. In 2025 alone, the company donated $200,000 to support nonprofits, workforce programs, and local initiatives.

Significantly, restarting Crane is part of Constellation’s larger multi-billion-dollar plan to extend the life of America’s nuclear fleet, increase output, and ensure reliable power for decades.

The Crane Clean Energy Center is expected to deliver significant economic benefits to Pennsylvania. An analysis by the Pennsylvania Building and Construction Trades Council projected that the restart would create thousands of direct and indirect jobs. It could add more than $16 billion to the state’s GDP and generate over $3 billion in state and federal tax revenue.

The plant is already more than 80 percent staffed, with over 500 employees, including engineers, mechanics, technicians, and licensed operators. Regulatory reviews and technical inspections remain on schedule.

Joe Dominguez, president and CEO of Constellation, said:

“DOE’s quick action and leadership is another huge step towards bringing hundreds of megawatts of reliable nuclear power onto the grid at this critical moment. Under the Trump administration, the FERC and DOE have made it possible for us to vastly expedite this restart without compromising quality or safety. It’s a great example of how America first energy policies create jobs, growth and opportunities and make the grid more reliable. Utilities and grid operators are moving too slowly and need to make regulatory changes that will allow our nation to unlock its abundant energy potential. Constellation and nuclear energy are helping to lead the way and we are thankful to President Trump and Secretary Wright for putting the ‘energy’ back into DOE.”

Nuclear Power for America’s Clean Energy Future

The surge in AI, electrification, and cloud computing has made nuclear energy more critical than ever. Small modular reactors and advanced technologies are gaining interest from utilities and data-center developers.

The U.S. produces about 30 percent of the world’s nuclear electricity. Ninety-four reactors supply steady, clean power to millions of homes and industries nationwide. According to the World Nuclear Association, U.S. reactors generated 779 terawatt-hours in 2023, accounting for 19 percent of the nation’s total electricity output.

The administration aims to quadruple U.S. nuclear capacity to 400 gigawatts by 2050. The International Energy Agency projects 35 GW of new capacity by 2035 and 200 GW by 2050, nearly triple current levels. Restarting Crane contributes to this goal while providing reliable baseload power, supporting AI and digital growth, and boosting the economy.

Electricity generation for data centres by fuel in the United States, Base Case, 2020-2035

The Crane Clean Energy Center restart is a key step toward clean, reliable energy. It shows how nuclear power can meet rising electricity needs, support innovation, and strengthen local economies.

• READ MORE: US Targets 200 GW Nuclear Expansion to Meet Soaring Energy Demand

The post Constellation Secures $1B DOE Loan to Restart Crane Clean Energy Center and Boost America’s Nuclear Energy Future appeared first on Carbon Credits.

The 30th United Nations Climate Change Conference (COP30) concluded last Friday in Belém, Brazil. Countries met to discuss how to respond to climate change and support global climate goals. The meeting produced some progress, especially in climate finance. However, it did not include binding commitments to end fossil fuel use or stop deforestation.

The outcome, inked by 194 nations, showed both achievements and limits. It also highlighted the challenges that come with global climate talks that need agreement from almost 200 countries.

Adaptation Finance Gets a Lift — But Not Enough

One major result of COP30 was the agreement to increase support for countries affected by climate change. The final text calls for a large boost in adaptation finance. This includes a plan to scale up support to around US$120 billion per year by 2035, which is about 3x more than the current pledge. This money will help nations prepare for floods, storms, droughts, and other climate impacts.

Developing countries welcomed this boost. They often face the worst climate impacts but have fewer resources to respond. The extra funding helps communities in several ways. It builds infrastructure, improves disaster response, supports farmers, and protects vulnerable groups.

However, experts note that the global adaptation finance gap is still over US$300 billion per year. This means the new target still falls far short of what vulnerable countries need. While COP30 showed progress in financial support, the scale of funding challenges remains large.

The agreement also encourages countries to improve the reporting and tracking of adaptation funds. This aims to make the money more predictable and effective. Although the increase is significant, the exact details of how funds will be distributed are still being finalized.

Fossil Fuel Talks: Big Ambition, Small Commitments

COP30 introduced voluntary roadmaps for two important areas: fossil fuels and deforestation. Countries agreed to discuss long-term plans to reduce fossil fuel use and protect forests.

However, these roadmaps are not binding. They do not set legally enforceable targets. Countries can join voluntarily and report their progress, but there are no penalties for failing to meet the goals.

More than 80 countries supported the fossil fuel transition roadmap, including Brazil, South Korea, Germany, France, Colombia, Chile, Kenya, and Mexico. These countries said they were willing to explore pathways toward cleaner energy systems.

But some major fossil fuel producers opposed binding language. Countries such as Saudi Arabia, Russia, India, and China pushed back against any formal agreement to phase out fossil fuels. Because of this opposition, the roadmap remains voluntary and sits outside the official COP30 text.

Wopke Hoekstra, EU Commissioner for Climate, Net Zero and Clean Growth, posted:

“However, a group of mainly oil-producing countries did everything to block the reference to phasing out fossil fuels in the unanimous agreement. Instead, on an initiative led by Brazil, we will form a large coalition of the willing committed to a concrete roadmap for phasing out fossil fuels.”

The forest roadmap is also voluntary. It focuses on protecting and restoring forests, especially in important regions like the Amazon. The Amazon plays a major role in storing carbon, supporting biodiversity, and regulating weather patterns. But countries differed widely on how quickly deforestation should be reduced, which made it difficult to reach a binding agreement.

These voluntary roadmaps show how challenging it is to reach an agreement among nearly 200 nations. Different national priorities, economic pressures, and political interests shaped the final outcome. The voluntary nature of the roadmaps was a compromise to keep all countries involved in the process.

• SEE MORE: COP30 Begins with a Call for Delivery, with Carbon Credit Rules Taking Shape

Limited Progress on Emissions Reduction

COP30 placed much of its emphasis on adaptation finance and voluntary initiatives. However, the conference did not make any binding commitments to reduce fossil fuel use. This created a large gap between scientific recommendations and political agreements.

Global warming continues to speed up. Scientists explain that the world must sharply cut carbon emissions in the next decade to keep global temperature rise below 1.5 °C. Passing this threshold increases the risk of extreme climate impacts, including stronger storms, hotter heatwaves, and ecosystem loss.

The chart shows the large difference between where emissions are projected under current climate plans and where they need to be in order to stay on track for 1.5°C. The gap is huge — more than a third of current projected emissions.

COP30 did not introduce new binding measures to support the 1.5 °C pathway. Instead, delegates stressed the importance of national climate plans, or NDCs (Nationally Determined Contributions). Countries were encouraged to update their NDCs with higher ambition.

Before COP30, some countries submitted stronger NDCs. South Korea, for example, announced a plan to cut greenhouse gas emissions by 53% to 61% by 2035, compared to 2018 levels.

More than 120 countries also updated or strengthened their NDCs ahead of the conference. These updates show a willingness to act but still rely heavily on voluntary action without enforcement mechanisms. Scientists say this gap makes it difficult to meet global climate targets.

Forest Protection Goals Remain Voluntary

Deforestation was another major issue where COP30 did not deliver a binding result. The final text did not include a global commitment to end forest loss by a specific date. Instead, the forest roadmap remains voluntary, leaving each country to decide its own pace.

This outcome is notable because the Amazon rainforest, where COP30 was held, is one of the world’s most important ecosystems. It stores large amounts of carbon dioxide and contains rich biodiversity. Scientists warn that losing more of the Amazon could push parts of the forest toward a “tipping point,” where it can no longer recover from damage.

Some countries announced national programs and partnerships to reduce deforestation. Others introduced local community agreements and government-company collaborations. These efforts are helpful but limited without a binding global target. As a result, the overall potential impact remains uncertain.

Key Decisions and Frameworks

Despite the gaps, COP30 reached several agreements and introduced frameworks that could support future action. Key decisions include:

• Tripling adaptation finance for vulnerable nations.
• Launching voluntary roadmaps for fossil fuels and forests.
• Strengthening mechanisms to monitor and report climate finance.
• Encouraging countries to enhance NDCs and other climate plans.
• Creating new dialogues on trade and climate policy.

These measures aim to keep international cooperation on track. They also provide tools for tracking progress and sharing knowledge. While not legally binding, they may help countries coordinate and plan their next steps.

Why Global Climate Politics Remain Stuck: The Road After COP30

COP30 highlighted several challenges facing global climate negotiations. Political divisions made it difficult to reach strong agreements. Countries have different priorities, depending on their economic structure, natural resources, and development needs. Some focus on adaptation finance, others on fossil fuel transition, and others on forest protection.

Another major challenge is the COP process itself. With almost 200 countries involved, decisions must be made by consensus. This means that even a small number of countries can block stronger language. As a result, many proposals were softened to achieve agreement, especially those related to fossil fuels.

Future steps will focus on how countries turn voluntary plans into clear actions. Governments are expected to update their NDCs, implement adaptation projects, and improve transparency in reporting. Civil society groups, local governments, and the private sector are also expected to help track progress and hold governments accountable.

Experts say that future COP meetings will need to build on COP30’s progress and address its gaps. Stronger and more coordinated commitments, especially on fossil fuels and forest protection, will be crucial to staying within global climate goals. COP30 was another step in a long process, but much more work is needed to secure a safer and more stable climate future.

• READ MORE: Indonesia Aims to Sell $1B Carbon Credits at COP30, While Other Countries Step Up Their Carbon Plans

The post COP30 Ends in Belém: Big Money for Adaptation, Big Misses on Fossil Fuels appeared first on Carbon Credits.

Sociedad Química y Minera de Chile (SQM) delivered a solid set of results for the third quarter of 2025, even though earnings came in slightly below what Wall Street expected. The company reported net income of $0.62 per share, just $0.02 short of analyst forecasts.

Revenue for the quarter reached $1.17 billion, supported by strong performance in its lithium business. Record lithium sales volumes played a major role in boosting the company’s top line, showing how quickly demand has improved across global battery markets.

Lithium Momentum Pushes SQM Toward a Strong 2025

• Gross profit climbed 23.1% year-over-year to $345.8 million, marking a strong rebound after a period of weaker prices earlier in the cycle.

Reuters noted that SQM benefited from rising lithium prices as electric vehicle (EV) demand recovered and large-scale battery storage projects expanded around the world. With these trends gaining strength, SQM raised its 2025 global lithium demand growth forecast to more than 20%, up from its earlier estimate of around 17%.

Looking ahead, SQM maintains a positive outlook for the market. The company plans to invest $2.7 billion over the next three years to expand lithium production capacity in Chile. SQM expects lithium prices to stay on an upward trend in the fourth quarter of 2025 as demand from EVs and energy storage systems continues to accelerate.

China’s Bullish Outlook Sparks a Market Rally

While SQM’s results were strong on their own, global sentiment around lithium improved even more after China’s Ganfeng Lithium issued a highly optimistic forecast. According to Bloomberg, Ganfeng Chairman Li Liangbin projected 30% growth in lithium demand next year. His comments immediately triggered a sharp rally in both lithium prices and mining stocks.

The most-active lithium carbonate futures contract on the Guangzhou Futures Exchange jumped 9%, hitting the daily upper limit of 95,200 yuan per ton (around $13,400). Investors reacted quickly, sending shares of major producers higher. SQM’s stock rose as much as 14%, and Albemarle shares climbed about 9.3% during the rally.

This price surge helped strengthen SQM’s quarterly financials. The company reported net income of $178.4 million, a 36% jump from $131.4 million a year earlier.

Revenue climbed 8.9%, rising from $1.08 billion to $1.17 billion over the same period. With growing investor confidence, SQM’s U.S.-listed shares touched $64.60, their highest level in more than two years.

• CHECK OUT: LIVE LITHIUM PRICES 
• MUST READ: Top 5 Lithium Producers Powering the Battery Market in 2025 

Lithium Market Shifts Into Recovery

Despite these strong results, the lithium industry is still navigating a market that has gone through significant volatility. Lithium prices cooled sharply after reaching record highs in 2022, as supply growth outpaced demand. This pressured margins for SQM, Albemarle, and other major producers.

However, the second half of 2025 brought a noticeable turnaround. SQM said demand between July and September was stronger than expected.

CEO Ricardo Ramos told analysts that although the market remained volatile, SQM was “cautiously optimistic” about the coming months. He emphasized that fundamentals remain strong because demand is rising not just for electric vehicles but also from energy storage systems, which are becoming essential for renewable power grids.

SQM Sees Sharp Demand Jump Ahead of Codelco Deal

Additionally, the mining giant expects global lithium demand in 2025 to exceed 1.5 million metric tons, representing a 25% jump from 2024. Demand could rise further to 1.7 million metric tons by 2026, according to Pablo Hernandez, vice president of strategy and development for SQM’s Chilean lithium division.

However, even with stronger demand signals, he noted that the company remains conservative when estimating next year’s growth.

The company is also preparing to finalize its long-awaited partnership with state-owned miner Codelco. The joint venture will expand lithium extraction in the Atacama salt flat. With China’s market regulator now approving the deal, the final step is receiving a sign-off from Chile’s comptroller. CEO Ricardo Ramos said he is confident the deal will close before the end of the year.

JP Morgan Raises Long-Term Lithium Price Forecast

JP Morgan raised its long-term outlook for lithium prices as demand stayed strong and mining costs climbed. Earlier this year, the bank cut its long-term spodumene forecast to $1,100 per ton. After reassessing global trends, it now sees that number as too low and has increased its estimate to $1,300 per ton.

Why the Upgrade?

• Stronger Demand: Rapid EV and energy storage growth is expected to keep long-term demand elevated. Rising capital and operating costs also mean new projects need higher prices to advance.

• Market Alignment: Investors already assume long-term prices in the $1,200–$1,300 per ton range. JP Morgan’s new forecast better reflects market sentiment and helps identify trading inflection points.

• Supply Discipline: Australian miners say operations at Bald Hill, Wodgina, and Ngungaju won’t restart until prices exceed $1,200 per ton. JP Morgan sees similar discipline emerging in China, reducing the risk of oversupply.

The bank kept its long-term lithium carbonate and hydroxide assumptions at $15,000 per ton, calling these levels “incentive prices” for downstream investment. In the near term, JP Morgan lifted its 2026–2027 spodumene outlook from $800 per ton to $1,100–$1,200 per ton as it expects a tighter market and potential deficits.

The Bottom Line

SQM is benefiting from a fast-improving lithium market driven by strong EV and battery storage momentum. Rising prices, improved demand, and growing investor enthusiasm are lifting the company’s performance. Although volatility remains, SQM enters 2026 with record volumes, a solid financial foundation, and a clearer long-term strategy supported by disciplined supply and a stronger pricing outlook.

• READ MORE: China’s Grip on Lithium Tightens as Global Supply Struggles to Keep Up

The post SQM Bets Big With $2.7 Billion Expansion as Lithium Prices Rebound and Demand Surges appeared first on Carbon Credits.