The US government has decided to allocate a loan of $1.5 billion to restore the operation of the Palisades nuclear power plant in Michigan, writes the Associated Press.
In 2022, the plant with a capacity of 800 MW purchased by Holtec International with the intention of dismantling it. But now the plans have changed and it is going to be back in operation by the end of 2025.
Michigan Governor Gretchen Whitmer said it will be the first nuclear power plant in the US to be restarted after being shut down.
“Nuclear power – is the largest source of carbon-free electricity, directly supporting 100,000 jobs across the country and hundreds of thousands more indirectly,” – said Secretary of the Economy Jennifer Grenholm, former governor of Michigan.
The Palisades nuclear power plant is located on the shores of Lake Michigan, two hours from Chicago. From 1971 to 2007, it was owned by the Michigan energy company CMS Energy. The plant was then sold to Louisiana-based power company Entergy, and closed in 2022.
Holtec said it still has long-term commitments from two electric cooperatives to purchase the plant's electricity.