DOE Releases Third Loan Disbursement to Holtec to Reopen the Palisades Nuclear Plant

The U.S. Department of Energy (DOE) Secretary Chris Wright has released the third loan disbursement to Holtec for the reopening of the Palisades Nuclear Plant.

The action released $46,709,358 of the up to $1.52 billion loan guarantee to Holtec for the nuclear plant, which will provide 800 MW of affordable, reliable baseload power in Michigan, upon completion.

The plant will restart a commercial nuclear reactor that ceased operations, subject to U.S. Nuclear Regulatory Commission (NRC) licensing approvals. The announcement highlights Holtec’s third disbursement of funds from the Loan Programs Office (LPO) since the announcement of its financial loan close in September 2024.