The US Government is expected to announce $1.5 billion in funding to enable the 800 MW Palisades nuclear power plant in Michigan to be restarted.
The plant was purchased by Holtec International in 2022 from Entergy with a view to decommissioning. However, Holtec has since said that it would potentially restart operations providing funding from the Federal government was made available. Holtec officials have said that the government’s financial support would help with the reopening of Palisades, a process expected to take two years.
Nick Culp, spokesman for Holtec, said: “This is an historic opportunity for the country and Michigan. As we transition away from fossil fuels, nuclear is going to be a critical part of not only reaching our climate goals, but doing so in a way that ensures that the lights stay on.”