A mothballed nuclear power plant in Michigan is set for revival as the Trump administration has issued a fifth instalment of a loan guarantee for the facility.
Holtec has been granted the latest loan disbursement of $83,234,156 (£61,909,297) of the up to $1.52 billion (£1.13bn) loan guarantee for the Palisades Nuclear Plant.
It will be the first restart of a commercial nuclear reactor in decommissioning in the US, subject to the Nuclear Regulatory Commission (NRC) approvals.
The guaranteed loan funds disbursed so far will help fund the reopening of the nuclear plant, including the NRC’s approval of a series of licensing and regulatory actions.
Once returned to service, Palisades will generate more than 800MW of electricity – enough to power more than 800,000 households.
US Department of Energy Secretary Chris Wright said: “Thanks to President Trump, the Department of Energy is working in tandem with our regulatory partners to accelerate the reopening of the Palisades Nuclear Plant and unleash a true American nuclear renaissance.
“These efforts will help reinvigorate our nuclear industrial base, deliver lower energy costs for millions of Americans and strengthen our nation’s energy security.”
Mothballed nuclear plant in Michigan set for revival appeared first on Energy Live News.