U.S. Department of Energy Secretary Chris Wright recently announced the release of the fourth loan disbursement to Holtec to help fund the restart of the Palisades Nuclear Plant in Michigan.
The action disburses $100,451,904 of the up to $1.52 billion loan guarantee to Holtec for the Palisades Nuclear Plant, which will be America’s first restart of a commercial nuclear reactor that ceased operations, subject to U.S. Nuclear Regulatory Commission approvals.
This disbursement marks Holtec’s fourth disbursement of funds from the Loan Programs Office (LPO) since the September 2024 announcement of the loan’s financial close.
To date, $251,878,038 of DOE guaranteed loan funds have been disbursed to Holtec to help fund the reopening as it continues to make important milestones toward plant restart, including the NRC’s issuance of the final environmental assessment and finding of no significant impact.
The announcement highlights the Energy Department’s leading role in advancing President Trump’s Executive Order 14302, Reinvigorating the Nuclear Industrial Base, through funding the restart of nuclear plants, DOE said.
