U.S. Department of Energy Secretary Chris Wright on March 17 announced the release of the second loan disbursement to Holtec for the Palisades Nuclear Plant.
Holtec is working to restore and resume operations at the 800-megawatt nuclear generating station in Covert Township, Michigan.
The DOE’s action releases $56,787,300 of the up to $1.52 billion loan guarantee to Holtec for the Palisades project.
The Palisades Nuclear Plant will be America’s first restart of a commercial nuclear reactor that ceased operations, subject to U.S. Nuclear Regulatory Commission (NRC) licensing approvals.
The March 17 disbursement is Holtec’s second disbursement of funds from the Loan Programs Office since the announcement of its financial loan close in September 2024. LPO funds go toward the plant restart and ensuring the plant is NRC compliant.
