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The federal government will provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan, officials announced Wednesday. Holtec Inter

The federal government will provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan, officials announced Wednesday. Holtec In

The US Department of Energy Loan Programs Office has conditionally committed up to USD1.52 billion for a loan guarantee to Holtec Palisades for its project to bring the Palisades plant, which ceased operations in May 2022, back online. If the project proceeds, it will be the first nuclear power plant in the USA to return to commercial operations after being closed down.

The nuclear plant's owner will borrow up to $1.52 billion from the Department of Energy to restart energy production.

It would be the first nuclear power plant to be reopened in the U.S.

The Palisades Nuclear Plant won a $1.5B conditional federal loan to reopen. Plant owner Holtec aims to move fast — but the path ahead is murky.

News Release

Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it. But now the emphasis is on restarting it by late 2025, following support from the state of Michigan and the Biden administration.

Entergy Arkansas announced on Thursday that they will decrease customers' electric bills beginning with the billing cycle in April.

Energy Secretary Jennifer Granholm says nuclear power is a great source of carbon-free electricity. It would be the first-ever reopened nuke plant in the U.S.