U.S. Department of Energy Secretary Chris Wright on Sept. 16 announced the release of the sixth loan disbursement to Holtec to help fund the restart of the Palisades Nuclear Plant in Michigan.
The action disburses $155,944,659 of the up to $1.52 billion loan guarantee to Holtec for Palisades, which will be America’s first restart of a commercial nuclear reactor in decommissioning, subject to U.S. Nuclear Regulatory Commission (NRC) approvals. Once complete, the plant will generate 800 MW of baseload power.
This marks Holtec’s sixth disbursement of funds from the Loan Programs Office (LPO) since the September 2024 announcement of the loan’s financial close.
To date, $491,056,853 of DOE-guaranteed loan funds have been disbursed to Holtec as it continues to make progress toward plant restart, including the NRC’s issuance of the final environmental assessment and finding of no significant impact, and the NRC’s approval of a series of licensing and regulatory actions to transition the Palisades Nuclear Plant from decommissioning status back to operations.
