Federal funding secured to support historic reopening of Michigan nuclear power plant
By
Callie Patteson
September 30, 2024 12:27 pm
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The Biden administration has finalized a loan to help reopen the Palisades nuclear power plant in Michigan, which is anticipated to become the first-ever decommissioned plant to come back online in the United States.
The Energy and Agriculture departments announced the $1.52 billion loan on Monday, a major show of government support for the clean energy source.
Two rural electric providers, Wolverine Power Cooperative and Hoosier Energy, are also set to be awarded over $1.3 billion to offer discounted electricity to consumers through clean energy produced by the nuclear plant and other sources.
Through the loan agreement, all funding has been secured to reopen the Palisades plant, according to Holtec International, which owns the plant. The company plans to use the funds for inspections, testing, restorations, rebuilding, and equipment replacements, according to CNBC.
The Palisades nuclear plant was shut down in May 2022 after being in operation for five decades. Once brought online, the plant will be the first in the country to be recommissioned after previously being retired. Once approved, the plant is expected to remain open until at least 2051, according to the USDA.
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https://www.washingtonexaminer.com/policy/energy-and-environment/3170688/federal-funding-palisades-michigan-nuclear-power-plant/
