Biden administration offers conditional $1.52B to Holtec Palisades to recommission Michigan nuclear power plant
March 29, 2024
As a loan guarantee for Holtec Palisades, the U.S. Department of Energy (DOE) announced that its Loan Programs Office (LPO) agreed to a conditional commitment of up to $1.52 billion to Holtec Palisades to finance the restoration of its Michigan nuclear power plant.
That plant is an 800 MW station located in Covert Township, Mich., and its restoration would allow it to resume service that has been offline since May 2022. This would be predicated on upgrades to allow it to produce baseload clean power until at least 2051, if it passes all U.S. Nuclear Regulatory Commission (NRC) licensing approvals.
