On Tuesday, Bloomberg reported the U.S. Department of Energy plans to approve Holtec for a $1.5 billion loan. The money is crucial to the company's plan to restart the shuttered Palisades Nuclear Plant in Covert.
Holtec spokesman Nick Culp did not confirm the Bloomberg report. He said the approval is still in progress.
“We're very optimistic about the federal loan process and confident that based on the strength of our application and the importance of the project that we hope to hear something very favorable soon,” Culp said.
Bloomberg’s story came the same day as news of a fine against Holtec.
The New Jersey Attorney General’s Office said the company will pay $5 million in penalties to avoid criminal prosecution after an investigation into its tax credit applications.
In a statement, the company denied wrongdoing.
The AG’s office said the two companies agreed to cease pursuing the credits.
Holtec must also use a state-approved independent reviewer for state benefits applications for up to three years.
Michael Symonds reports for WMUK through the Report for America national service program.
