SUBSCRIBE
PROFILE

United States releases additional $100 mn to restart Palisades Nuclear Plant

The US government grants a fourth payment of $100.45 mn to Holtec International to restart the Palisades Nuclear Plant, pending regulatory approval, marking an unprecedented event in the United States.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 £*

then 199 £/year

SUBSCRIBE — 99 £ for the 1st year

Create a free account to read this article

*renews at 199£/year, cancel anytime before renewal.

The U.S. Department of Energy (DOE) has confirmed a new financial disbursement intended to relaunch operations at the Palisades Nuclear Plant. This amount of $100.45 mn is an integral part of a loan guarantee programme totaling $1.52 bn for Holtec International, aimed at restarting this previously closed facility.

Financing and relaunch strategy

Since the financial closing of the loan in September 2024, this payment is the fourth made by the DOE’s Loan Programs Office (LPO). To date, a cumulative total of $251.88 mn in federally guaranteed funds has been disbursed to Holtec International to support preliminary steps toward restarting Palisades.

U.S. Secretary of Energy Chris Wright has described this action as essential to revitalising the national nuclear industry. “Under President Trump’s leadership, the Department of Energy plays a critical role in reviving the nuclear sector in the United States. The Palisades plant will contribute to revitalising our nuclear industrial base,” said Wright.

Regulatory and environmental approval

This potential reopening remains entirely dependent on authorisations from the U.S. Nuclear Regulatory Commission (NRC). The NRC recently issued a final environmental assessment indicating no significant environmental impact from resuming operations at Palisades.

The Trump administration, through the DOE, strongly supports this reopening under Presidential Executive Order 14302, titled “Reinvigorating the Nuclear Industrial Base,” aiming to restore American competitiveness in nuclear energy.

Economic and energy outlook

The reactivation of Palisades fits within a broader economic revival of the American energy industry. According to the Department of Energy, restarting a previously closed nuclear plant represents an unprecedented event in U.S. civil nuclear history and could directly influence national industrial competitiveness and energy supply.

The loan granted to Holtec is structured through phased disbursements conditioned upon specific milestones. This funding model allows the U.S. government to closely monitor project progress and ensure adherence to technical and environmental commitments before the effective reactivation of the nuclear facility.

  • Popular on energynews.pro
India diversifies coking coal purchases, Australia retreats
Quebec allocates $1.5M to meet the demand for wind turbine technicians
Equinor, Shell and TotalEnergies launch the first subsea CO2 injection in Norway
Guidehouse forecasts $8.1 billion revenues for modular reactors by 2034
AMIGO LNG signs 15-year deal with Macquarie for 0.6 MTPA of LNG
Seoul and Washington open talks on nuclear fuel reprocessing
The United States and South Korea have agreed to initiate discussions on reprocessing spent nuclear fuel, marking a potential strategic shift in the long-standing bilateral agreement.
AP1000 reactor certification extended in the US until 2046
The United States Nuclear Regulatory Commission has granted a 40-year extension for the AP1000 reactor design certification, supporting its long-term construction domestically and deployment abroad.
Nano Nuclear partners with Dioxitek to strengthen Argentina’s nuclear supply chain
Nano Nuclear Energy has signed a memorandum of understanding with Dioxitek, Argentina’s only uranium supplier for nuclear fuel, to assess the development of local conversion and enrichment capacities.
Sweden lifts uranium mining ban to revive nuclear industry
Stockholm plans to restart uranium extraction by lifting the 2018 ban, aiming to secure strategic supply chains and support domestic nuclear electricity production.
CEA considers deploying a small Calogena nuclear reactor in Cadarache
The French Atomic Energy Commission has signed a letter of intent with start-up Calogena to study the installation of a 30 MW thermal small nuclear reactor at its Cadarache site.
Several South Korean groups back $50bn nuclear projects in the United States
KHNP, Doosan, POSCO and Samsung C&T join US partners to develop 5 GW of modular reactors, expand uranium enrichment and build an 11 GW energy complex in Texas.
Washington activates Defense Production Act to secure enriched uranium
The US Department of Energy is creating an industrial consortium to accelerate domestic enriched uranium production and reduce reliance on foreign imports ahead of the Russian supply ban in 2027.
One of the drones from last weekend’s Ukrainian attack struck the Kursk nuclear power plant
The kamikaze drone damaged an auxiliary transformer at the Kursk plant, halving the output of its only reactor in operation, according to Rosatom and the International Atomic Energy Agency.
EDF restarts Gravelines reactors after shutdown caused by jellyfish
The four production units at the Gravelines nuclear power plant, shut down in mid-August by a massive jellyfish incursion, are back online, restoring the site’s full capacity.
enCore Energy completes $115M convertible notes offering
enCore Energy Corp. has completed a $115 million fundraising through convertible notes maturing in 2030, strengthening its financial capacity for upcoming operations.
Vattenfall selects GE Vernova and Rolls-Royce for future nuclear reactors
Vattenfall advances its nuclear project in Sweden by selecting two modular reactor suppliers, GE Vernova and Rolls-Royce SMR, for a potential installation on the Värö Peninsula.
NANO Nuclear Advances to Final Round of US Army’s xTechSearch 9 Competition
NANO Nuclear Energy has been selected to compete in the final round of xTechSearch 9, a US Army initiative aimed at identifying high-potential dual-use technology solutions.
Aalo Atomics raises USD 100 million to launch its first nuclear power plant
Aalo Atomics completes Series B funding, bringing its total to USD 136 million, to build its first modular nuclear power plant dedicated to data centers.
Malaysia Launches Strategic Study on Civil Nuclear Potential
The Malaysian government initiates a national assessment on nuclear energy feasibility, targeting regions facing energy supply constraints and integrating international regulatory requirements.
Premier American Uranium finalizes the acquisition of Nuclear Fuels with Court approval
The merger between Premier American Uranium and Nuclear Fuels reaches a key milestone following final approval of the arrangement plan by the Supreme Court of British Columbia.
Google and Kairos Power to Build a 50 MW Nuclear Reactor in Tennessee
TVA, Google, and Kairos Power formalize an agreement to connect an advanced reactor to the grid, supporting data center energy growth and reinforcing the U.S. nuclear industry.
X-energy and the Pentagon Accelerate Nuclear Microreactor for National Security
The U.S. Department of Defense has signed an agreement with X-energy to develop a commercial nuclear microreactor intended to power sensitive military infrastructure.
NANO Nuclear Raises $209 Million and Accelerates Microreactor Deployment
With cash reserves multiplied sevenfold in nine months, NANO Nuclear intensifies development of its KRONOS MMR and positions itself in the Canadian and U.S. modular nuclear markets.
Equinix secures 20 Radiant microreactors and a nuclear deal in the Netherlands
Equinix signed a preorder for 20 Kaleidos nuclear microreactors and a letter of intent for a power purchase agreement with ULC-Energy, reinforcing its energy supply strategy for its data centers.
Oklo selected for three pilot projects by U.S. Department of Energy
The U.S. Department of Energy selects Oklo and its subsidiary Atomic Alchemy for three pilot reactor projects aiming for criticality before July 2026.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: £99 for the 1styear year, then £ 199/year.

SUBSCRIBE - €99