Overview

• The Energy Department has finalized a $1.5 billion loan to revive the Holtec Palisades Nuclear Plant in Covert Township, Michigan.
• The plant, which shut down in 2022, is expected to resume operations by October 2025, subject to Nuclear Regulatory Commission approval.
• The restart is projected to provide power until at least 2051 and support up to 600 local jobs, with agreements signed with 15 trade unions.
• Holtec International plans to inspect, refurbish, and upgrade the plant, with future plans to nearly double its capacity using small modular reactors.
• The decision has faced opposition from environmental groups like the Sierra Club, citing concerns over radioactive waste and its proximity to Lake Michigan.