Holtec gets $1.52 bln loan from US to restart nuclear power plant [View all]

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https://www.reuters.com/business/energy/holtec-gets-152-bln-loan-us-restart-nuclear-power-plant-2024-03-27/

Holtec gets $1.52 bln loan from US to restart nuclear power plant
By Reuters
March 27, 2024 10:34 AM CDT

March 27 (Reuters) - The U.S. Department of Energy said on Wednesday it would loan Holtec International $1.52 billion to help restart its Palisades nuclear power plant in Michigan.

The Biden administration believes nuclear power is essential in the fight against climate change and for its goals to decarbonize the country's power grid by 2035 and the economy by 2050. Nuclear plants also offer some of the highest-paying union jobs in the energy industry.

Earlier this year, the administration also agreed to provide $1.1 billion in credit to keep PG&E Corp's Diablo Canyon nuclear power plant in operation in California.

Florida-based Holtec says it aims to bring online its 800 megawatts (MW) Palisades nuclear plant, which it has said would employ more than 600 workers, along with its two small modular reactor units (SMRs).

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