U.S. Department of Energy Secretary Chris Wright recently announced the release of the fifth loan disbursement to Holtec to help fund the restart of the Palisades Nuclear Plant in Michigan.
The action disburses $83,234,156 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 in decommissioning, subject to U.S. Nuclear Regulatory Commission (NRC) approvals.
This marks Holtec’s fifth disbursement of funds from the DOE’s Loan Programs Office (LPO) since the September 2024 announcement of the loan’s financial close.
To date, $335,112,194 of DOE-guaranteed loan funds have been disbursed to Holtec to help fund the reopening as it continues to make progress toward plant restart, including the NRC’s approval of a series of licensing and regulatory actions to transition the Palisades Nuclear Plant from decommissioning status back to operations.
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.
