The U.S. Department of Energy (DOE) approved a third loan disbursement to Holtec. This funding, totaling $46.7 million, will help reopen the Palisades Nuclear Plant in Michigan. The loan is part of a larger $1.52 billion loan guarantee. It supports the revival of the 800MW nuclear facility, set to be the first reactor to restart after a shutdown.
Palisades Nuclear Plant Revitalization
This third loan installment follows earlier disbursements in January and March 2025, totaling over $151 million so far. The financing will help Holtec bring the Palisades facility back online. The plant will enhance Michigan’s carbon-free energy capacity. Holtec acquired the plant in June 2022 after its shutdown in May 2022. In October 2023, the company filed for federal reauthorization to restart operations.
Impact on Michigan’s Energy Future
Once operational, the Palisades Nuclear Plant will provide reliable, carbon-free energy. It will improve grid reliability and reduce Michigan’s reliance on imported energy. The project is expected to create over 600 direct jobs. It will also generate more than $500 million in secondary economic activity for the region. With continued DOE support, this project represents a major step in America’s nuclear energy future.
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