The United States Department of Energy (DOE) has released the fifth loan disbursement to Holtec for the Palisades Nuclear plant restart. The latest release involved $83.2 million of up to $1.52 billion in loan guarantees.
According to the DOE, the project will be America’s first restart of a commercial nuclear reactor in decommissioning.
Holtec said in July the Nuclear Regulatory Commission (NRC) had approved the company’s request to transition the Palisades Nuclear Plant from decommissioning status back to an operating license. That marked the first time a previously shut-down U.S. nuclear plant received approval to return to operations, Holtec said at the time.
“Thanks to President Trump, the Department of Energy is working in tandem with our regulatory partners to accelerate the reopening of the Palisades nuclear plant and unleash a true American nuclear renaissance”, DOE Secretary Chris Wright said. “These efforts will help reinvigorate our nuclear industrial base, deliver lower energy costs for millions of Americans, and strengthen our nation’s energy security”.
The loan’s financial close was announced in September 2024. So far, $335,112,194 of DOE-guaranteed loan funds have been released to Holtec.
The support is in line with President Donald Trump’s Executive Order 14302, titled “Reinvigorating the Nuclear Industrial Base”, the DOE said.
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