U.S. Department of Energy Secretary Chris Wright today announced the release of the third loan disbursement to Holtec for the reopening of the Palisades Nuclear Plant advancing efforts to unleash American nuclear energy.
April 22, 2025
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WASHINGTON— U.S. Department of Energy (DOE) Secretary Chris Wright today announced the release of the third loan disbursement to Holtec for the reopening of the Palisades Nuclear Plant. Today’s action releases $46,709,358 of the up to $1.52 billion loan guarantee to Holtec for the Palisades Nuclear Plant, which will provide 800MW of affordable, reliable baseload power in Michigan when completed.
“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 Secretary Chris Wright. “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 Plant will be America’s first restart of a commercial nuclear reactor that ceased operations, subject to U.S. Nuclear Regulatory Commission (NRC) licensing approvals.
This disbursement marks Holtec’s third disbursement of funds from the Loan Programs Office (LPO) since the announcement of its financial loan close in September 2024.
Today’s announcement highlights DOE’s commitment to unleashing American dominance in nuclear energy, and ensures the American people’s access to reliable, abundant, and affordable energy remains the Energy Department’s top priority.
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