Palisades Nuclear Plant Secures $1.52 Billion Loan for Historic Restart Backed by Biden Administration

Sep 30, 2024, 02:27 PM

The Palisades nuclear plant in Covert Township, Michigan, has secured a $1.52 billion federal loan from the Department of Energy to restart operations, marking the first reactor restart in U.S. history. The plant, located on the shores of Lake Michigan, originally ceased operations in May 2022 after more than 40 years of commercial service. This historic restart, supported by the Biden administration, is part of a broader effort to revive the U.S. nuclear energy sector, with the Department of Energy highlighting the significance of this investment. The Palisades plant has a capacity of 800MW and is one of the few restartable nuclear plants in the country, with only Duane Arnold in Iowa remaining as a potential candidate for future restarts.