Wedoany.com Report-Mar 20, United States Energy Secretary Chris Wright has announced a second loan disbursement to Holtec for the Palisades nuclear plant. The Department of Energy (DOE) released $56,787,300 of the up to $1.52 billion loan guarantee for the project, which will provide 800 MW of baseload power in Michigan.

The DOE released $56,787,300 of the up to $1.52 billion loan guarantee for the project.

“Unleashing American energy dominance will require leveraging all energy sources that are affordable, reliable and secure - including nuclear energy”, Wright said in a media release. “Today’s action is yet another step toward advancing President Trump’s commitment to increase domestic energy production, bolster our security and lower costs for the American people”.

Pending regulatory approval from the U.S. Nuclear Regulatory Commission (NRC), the Palisades plant is poised to become the nation's inaugural revival of a previously decommissioned commercial nuclear reactor. This endeavor is expected to generate or preserve as many as 600 skilled jobs in Michigan, with a significant portion of those positions likely to be filled by experienced individuals who have dedicated over two decades to the facility, the DOE said.

At the start of February 2024, Holtec said the facility achieved a key step towards its planned fourth-quarter restart, with the NRC issuing a draft Environmental Assessment indicating no significant environmental impact. This milestone addresses Holtec's requests for exemptions, license transfers, and amendments necessary to resume generation.