(PatriotSpotlight.org) – In a decision signaling a possible renaissance for America’s nuclear energy industry, the Biden administration has vowed to invest a major $1.5 billion loan to revive a nuclear power plant in southwestern Michigan. The decision, announced by officials on Wednesday, comes amid a wider push to boost non-hydrocarbon energy alternatives.
In 2022 Holtec International acquired the 800-megawatt Palisades plant, initially planning to decommission it. The company has now moved instead to recommission the plant by the end of 2025. This shift, which could strengthen the US’ energy security amid rising global tensions, has gained support from both the state of Michigan and the Biden administration.
Michigan Governor Gretchen Whitmer welcomed the change and highlighted that, if approved, it would be the first possible reopening of a nuclear power facility in the United States history. A string of complex inspections and testing procedures must first be done, followed by the final approval of the U.S. Nuclear Regulatory Commission (NRC). Meanwhile, ex-Michigan governor Jennifer Granholm, now serving as Energy Secretary, explained the key role nuclear had in offering clean energy, along with its potential to create jobs across the country, with it already being responsible for 100,000 employees across the US “and hundreds of thousands more indirectly.”
Situated close to picturesque Lake Michigan, the Palisades plant was owned by CMS Energy before it was purchased by Louisiana-based utility Entergy in 2007. Holtec has already suggested that it has commitments from electric cooperatives to buy the plant’s energy, once it is up and running again.
Holtec President and CEO Kris Singh, signaled his optimism over the plans, highlighting the benefits of restoring safe and reliable energy options to private and commercial consumers. However, some have highlighted the inadequacy of the plans dubbing the plant a “zombie reactor.” A coalition calling for the restart plans to be reversed has asked for a hearing at the NRC. The process of finalizing the loan deal with the government is likely to take another four to five months.
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