Holtec International and Michigan’s Wolverine Power Cooperative on Sept. 12 announced that they have entered into a long-term agreement that will pave the way for the restart of the 800-megawatt Palisades Nuclear Power Plant in Covert Township, Michigan.
The foundation of this partnership is a long-term power purchase agreement, with Wolverine committing to purchase up to two-thirds of the power generated by the Palisades Nuclear Power Plant for its Michigan-based member rural electric cooperatives.
Wolverine’s non-profit rural electric cooperative project partner, Hoosier Energy, will purchase the balance. Wolverine is owned by seven member cooperatives.
Following Holtec’s acquisition of the Palisades Nuclear Power Plant in June 2022, after the May 2022 shutdown, “the plant is now on track to become the first successfully restarted nuclear power plant in the United States, thanks to the strong support it has received from its community, state, and federal partners,” Wolverine Power Cooperative said.
In early 2023, Holtec submitted an application with the U.S. Department of Energy’s Loan Programs Office for federal loan funding to repower Palisades. The company is working cooperatively with DOE to move the loan application process forward.
Holtec has also participated in several public meetings with the U.S. Nuclear Regulatory Commission staff to discuss the proposed regulatory path to reauthorize operations at Palisades within the agency’s existing regulatory framework.