The U.S. Department of Energy (DOE) has announced the release of a second loan disbursement to Holtec for the Palisades Nuclear Plant. This action involves $56,787,300 from an approved loan guarantee that could reach up to $1.52 billion for the project, which aims to deliver 800MW of affordable and reliable power in Michigan.
"Unleashing American energy dominance will require leveraging all energy sources that are affordable, reliable and secure - including nuclear energy," stated DOE Secretary Chris Wright. "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."
The Palisades Nuclear Plant is set to become the first commercial nuclear reactor in the United States to restart after ceasing operations, pending licensing approvals from the U.S. Nuclear Regulatory Commission (NRC). The project is expected to support or retain up to 600 jobs in Michigan, many filled by workers with over two decades of experience at the plant.
This marks Holtec's second fund disbursement from the Loan Programs Office (LPO) since its financial loan closure was announced in September 2024. The LPO funds are allocated for restarting the plant and ensuring compliance with NRC regulations.
This development underscores DOE's dedication to advancing President Trump's agenda on enhancing affordable and secure energy by investing in projects nationwide that support American employment, strengthen domestic supply chains, and reinforce America's status as a global energy leader.
