Biden administration issues billion-dollar loan for reactivation of nuclear power plant: 'There's a growing sense among officials in the industry and government that it may not be the last'
Story by Mike Taylor • 10h •
A nuclear power plant that was closed less than two years ago is on the comeback trail on the heels of a $1.5 billion loan from the Biden administration.
The "loan guarantee" is contingent on regulatory approvals and other requirements, The New York Times reported in March. The plant would be the first in the United States to be successfully restarted and help pour $363 million into the regional economy. It is located in Covert Township, Michigan.
Bloomberg added that "there's a growing sense among officials in the industry and government that it may not be the last," calling an industry renaissance "once unthinkable."
The outlets reported that aging facilities and operating costs are at the root of recent shutdowns in the United States. Some plants could be reopened, though at least a couple have been all but permanently decommissioned.
"Nuclear power is our single largest source of carbon-free electricity, directly supporting 100,000 jobs across the country and hundreds of thousands more indirectly," Secretary of Energy Jennifer M. Granholm said in a statement.
https://www.msn.com/en-us/lifestyle/lifestyle-buzz/biden-administration-issues-billion-dollar-loan-for-reactivation-of-nuclear-power-plant-there-s-a-growing-sense-among-officials-in-the-industry-and-government-that-it-may-not-be-the-last/ar-BB1m85HC?ocid=widgetonlockscreen&cvid=c81f2dd049b74a24a80ec75ddbadf6f4&ei=78
