COVERT TOWNSHIP, MI (WKZO AM/FM) — Bloomberg is reporting Holtec International Corporation will receive a $1.5 billion loan from the U.S. Energy Department to restart the Palisades nuclear power plant in Van Buren County.
The facility shut down in May 2022 to be decommissioned, but Holtec pitched the restart idea after purchasing the plant.
Officials say Palisades will become the first nuclear plant to successfully restart in the U.S.
Spokesman Nick Culp called it a “historic opportunity for the country and Michigan,” and Holtec is also proposing adding two small nuclear reactors that would be built starting in 2030 and double the amount of electricity produced.
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