The Palisades Nuclear Plant in Michigan is one step closer to restarting as President Donald Trump forges ahead to open up American energy sources.
"In advancing President Trump’s commitment to meet our growing demand for affordable, reliable and secure electricity, America needs to utilize all forms of energy that grow our economy, create new jobs, and secure energy independence," said U.S. Energy Secretary Chris Wright in the announcement. "With projects like the Palisades Nuclear Plant, the Energy Department is working to ensure America's nuclear renaissance is just around the corner."
The Palisades nuclear power plant on the shore of Lake Michigan (Jim West/UCG/Universal Images Group via Getty Images)
Holtec International, which operates the nuclear facility located on Lake Michigan in Van Buren County’s Covert Township, received the third loan installment of $46 million of up to $1.52 billion from the Department of Energy marked for the reopening.
"We look forward to returning 800 mw [megawatts] of clean, baseload power back to Michigan. The historic restart of Palisades will help back 600 highly skilled jobs to the region. With a targeted restart of October of 2025, we continue to work diligently to ensure the plant is ready to repower for decades to come," a company spokesperson told FOX Business.
The Palisades Nuclear Plant will be the first restart of a commercial nuclear reactor in the U.S. It ceased operations after 50 years in May 2022 by then-owner Entergy.
A control panel in the control room simulator of the Holtec Palisades Training Center in Covert, Mich., on March 27, 2024. (Kristen Norman/Bloomberg via Getty Images)
The reopening is subject to approval by the U.S. Nuclear Regulatory Commission. The U.S. runs about 94 nuclear reactors, operating nearly 97 gigawatts, which is the largest commercial nuclear power fleet in the world, according to the Department of Energy.
The Vogtle plant in Georgia is the largest in the U.S.