--- title: "Three Mile Island nuclear power plant restarts under new ownership" url: https://newscentral.site/three-mile-island-nuclear-power-plant-restarts-under-new-ownership/ language: en publisher: "News Central Site" section: "Business" published: 2026-10-28T12:00:00.000Z updated: 2026-10-29T18:51:15.377Z id: a5492477-f526-490d-9ddd-fdbad88bc06b source: "Fortune https://fortune.com/2026/10/28/climate-innovation-movement-to-market/" attribution: "Link to https://newscentral.site/three-mile-island-nuclear-power-plant-restarts-under-new-ownership/ and name News Central Site when you quote or summarize this story." --- # Three Mile Island nuclear power plant restarts under new ownership Microsoft has signed a long-term agreement with the Three Mile Island nuclear power plant to purchase its power, which is now being restarted as the Crane Clean Energy Center. The Three Mile Island nuclear power plant has been given a new lease on life after being shut down due to economic reasons in 2019. The Unit 1 reactor was still operational but couldn't compete with other sources of energy. However, Microsoft signed a long-term agreement to purchase the plant's power, and it is now being restarted as the Crane Clean Energy Center. The change in ownership has breathed new life into the plant, which had been written off by the market. The story of Three Mile Island serves as an example of what could be happening on a larger scale with climate tech investments. According to recent data, specialist venture funds focused on climate are on track to raise less than $1 billion this year, marking their weakest performance since 2015. This decline in fundraising for climate-specialist venture funds contrasts with the increased investment flowing into clean energy startups themselves. In fact, venture and growth investment in these companies reached a three-year high in 2025, according to Sightline Climate. A significant shift is underway, with generalist investors, public markets, and corporate buyers increasingly taking over from specialist climate funds as the primary sources of funding for clean energy startups. The shift in climate investment is not just about the decline of specialist funds, but also about a change in how technology wins markets. Ultimately, a technology only needs to excel where its customers value most. In the clean energy sector, this has led to companies that offer superior performance and compelling economics gaining traction. For decades, the assumption was that people would take action if they fully understood the scale of the climate crisis. However, humans have a tendency to ignore problems that seem distant or politically charged. This is evident in the way people respond to climate change compared to other pressing issues. The adoption of AI technology demonstrates how innovation can succeed even without universal moral consensus. Companies are racing to adopt AI to reduce costs and stay ahead of competitors, despite much of its promised value remaining unproven. The relative advantage of an innovation is key, as defined by sociologist Everett Rogers, the degree to which it is perceived as better than what it replaces. AI's success hinges on the value it creates, rather than the problems it promises to solve. In contrast, climate tech has often been defined by its problem-solving approach, rather than its potential benefits. This distinction may be crucial in understanding why some clean energy startups are gaining more traction than others. The clean energy sector is witnessing a significant shift, with generalist investors and corporate buyers increasingly taking over from specialist climate funds as primary sources of funding for startups. The plummeting costs of renewable energy sources have transformed the market dynamics in favor of clean technologies. Utility-scale solar power, for instance, has witnessed a remarkable decline in its global average cost, shrinking by approximately 90% between 2010 and 2023, according to data from the International Renewable Energy Agency. This significant reduction in costs has shifted the focus away from the premium associated with investing in environmentally friendly projects. Instead, companies are now being drawn to clean energy options that offer cheaper power and long-term price certainty. The trend is evident in various sectors, including heating systems, where U.S. heat pump shipments have surpassed those of gas furnaces by a record 32% margin in 2024. The environmental benefits of these technologies are undeniable, but they no longer need to be the primary reason investors allocate funds. This shift underscores the growing recognition that clean energy solutions can stand on their own merit, without relying solely on altruistic motives. However, not all climate technologies have reached a level of maturity where they can compete in the market without additional support. Early-stage companies pursuing breakthroughs often struggle to secure funding, and many still require policy backing to overcome technical hurdles. The growing demand for clean energy from major corporations like Microsoft and Google has created new opportunities for these technologies. Long-term deals for nuclear and geothermal power are becoming increasingly common, with AI playing a significant role in driving this trend, not just as a competitor for capital but also as a key customer for clean energy solutions. As investors reassess their climate-focused investments, many are shifting their focus towards companies that don't necessarily label themselves as "climate ventures. According to Dawn Lippert of Earthshot Ventures, a significant majority - approximately 90% - of the firms her organization backs have generalist tech investors as co-investors. This trend reflects a broader shift in how businesses approach sustainability and clean energy technologies. Rather than viewing these innovations as niche or specialized tools, companies are increasingly seeing them as essential components of their operations. For instance, manufacturers that adopt industrial heat pumps can significantly reduce their energy costs, while data centers that incorporate on-site batteries can get online faster. The evolution of the internet company label in the 1990s serves as a useful analogy for this shift. Initially, being an internet firm was a unique and distinct identity, but today it's hard to find a business that doesn't rely on digital technologies in some way. Similarly, electricity became a ubiquitous force in industry over the course of several decades, transforming factories and production processes. As companies continue to adopt climate-enabling technologies, they will become an integral part of how businesses compete - much like electricity did for factory owners in the 1920s. Executives won't need to explicitly market themselves as climate firms; their products and services will speak for themselves. As the climate tech industry navigates its worst fundraising year since 2015, a shift in perspective is underway. The focus is shifting from categorizing companies as climate" firms to integrating climate innovation into the fabric of the entire economy. The ultimate goal is to make climate-friendly technologies so ubiquitous and effective that they become the standard, no longer requiring a separate label or category. This would signal the triumph of climate tech, rather than its failure. --- Source: [Fortune](https://fortune.com/2026/10/28/climate-innovation-movement-to-market/) Published by News Central Site: https://newscentral.site/three-mile-island-nuclear-power-plant-restarts-under-new-ownership/