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A $1.5 billion conditional loan brings Holtec closer to reopening Palisades

A a light gray Holtec International facility sits beyond a black gate and deep green grass. Various wooden things sit outside the facility, including pallets all in different condition. Holtec International sits in bold black letters on the side of the facility, with five large red squares claiming space above the name.
Matt Rourke
A Holtec International facility in Camden, NJ.

The loan marks a major step forward in the effort to restart the nuclear plant.

U.S. Secretary of Energy Jennifer Granholm and Governor Gretchen Whitmer toured the Palisades Nuclear Plant Wednesday. During the visit, they announced that the Department of Energy has conditionally approved a $1.5 billion loan to Holtec International, which owns the shuttered plant in Covert.

Holtec wants to restart Palisades and it says the loan is vital to that effort.

The plant closed in May 2022. It’s up to the Nuclear Regulatory Commission to decide whether Palisades can reopen.

If it does, Palisades could become the first U.S. nuclear plant to restart.

The DOE says Holtec must meet certain legal, environmental and other conditions to receive the loan.

Michael Symonds reports for WMUK through the Report for America national service program.

Report for America national service program corps member Michael Symonds joined WMUK’s staff in 2023. He covers the “rural meets metro” beat, reporting stories that link seemingly disparate parts of Southwest Michigan.