U.S. Approves Aid to Restart Palisades Nuclear Plant

Published On Sep 30, 2024, 5:05 AM

The U.S. Energy Department has approved a $1.52 billion loan guarantee to support the reopening of the Palisades nuclear power plant in Michigan, which has been closed since 2022. This initiative is part of a broader government push to revitalize the nuclear energy sector in light of increasing electricity demand. Meanwhile, two rural electricity providers will receive $1.3 billion in federal grants to assist in this transition. Holtec International aims to refurbish and restart the plant by October 2025. The resurgence of interest in nuclear energy is also fueled by governmental subsidies designed to help mitigate climate change and support the transition to low-carbon power sources.