The U.S. Department of Energy (DOE) has released over $56 million in funding to Holtec International to help restart the Palisades Nuclear Plant in Michigan. This marks the second disbursement of a $1.52 billion loan guarantee aimed at returning the plant to operation.
The Palisades Nuclear Plant, which shut down in 2022, is expected to generate 800 megawatts of power once it restarts. The project could create or retain up to 600 jobs in the region, many of which will be filled by former workers at the plant.
The restart is contingent on approval from the U.S. Nuclear Regulatory Commission (NRC). Holtec will use the funds to ensure the plant meets NRC safety and compliance requirements.
The funding is part of a broader effort by the DOE to support energy projects that increase domestic energy production and bolster the country’s energy security.
