The Palisades nuclear plant in Michigan secured a $1.5 billion loan to restart its reactor by late 2025, marking the first U.S. reactor restart in history. Holtec International, the plant’s owner, will use the funds for inspections, equipment replacements, and restoration work, pending approval from the U.S. Nuclear Regulatory Commission. The plant shut down in 2022 due to competition from cheap natural gas. The restart would help meet the growing demand for carbon-free energy as the U.S. seeks to hit its climate targets. Holtec plans to double the plant’s capacity in the 2030s by introducing small modular reactors, speeding deployment, and lowering costs.
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00:00It's Benzinga, and here's what's on the block.
00:02The Palisades nuclear plant in Michigan secured a $1.5 billion loan to restart its reactor
00:08by late 2025, marking the first U.S. reactor restart in history.
00:12Poltec International, the plant's owner, will use the funds for inspections, equipment
00:17replacements, and restoration work pending approval from the U.S. Nuclear Regulatory
00:21Commission.
00:22The plant shut down in 2022 due to competition from cheap natural gas.
00:26The restart would help meet growing demand for carbon-free energy as the U.S. seeks to
00:30hit its climate targets.
00:32Poltec plans to double the plant's capacity in the 2030s by introducing small modular
00:37reactors, speeding deployment, and lowering costs.
00:40For all things money, visit Benzinga.com.