DOE Approves Fourth Loan Disbursement to Restart the Palisades Nuclear Plant

WASHINGTON— U.S. Department of Energy (DOE) Secretary Chris Wright today announced the release of the fourth loan disbursement to Holtec to help fund the restart of the Palisades Nuclear Plant. Today’s action disburses $100,451,904 of the up to $1.52 billion loan guarantee to Holtec for the Palisades Nuclear Plant, which will be America’s first restart of a commercial nuclear reactor that ceased operations, subject to U.S. Nuclear Regulatory Commission (NRC) approvals.

“Under President Trump’s leadership, the Department of Energy is taking a leading role in unleashing the American nuclear renaissance,” said Secretary Chris Wright. “The Palisades Nuclear Plant will help to reinvigorate our nuclear industrial base and will reestablish the United States as the world’s nuclear energy leader.”

This disbursement marks Holtec’s fourth disbursement of funds from the Loan Programs Office (LPO) since the September 2024 announcement of the loan’s financial close. To date, $251,878,038 of DOE guaranteed loan funds have been disbursed to Holtec to help fund the reopening as it continues to make important milestones toward plant restart, including the NRC’s issuance of the final environmental assessment and finding of no significant impact.

Today’s announcement highlights the Energy Department’s leading role in advancing President Trump’s Executive Order 14302, Reinvigorating the Nuclear Industrial Base, through funding the restart of nuclear plants. DOE remains committed to fulfill this mission in order to maximize the speed and scale of nuclear capacity in the United States, ensuring American’s have access to reliable, abundant, and affordable energy.