United States: Public funding for the revival of the Palisades power plant

Holtec International plans to reopen the Palisades nuclear power plant, thanks to $150 million in public funding approved by the state of Michigan.

Share:

Financement Michigan centrale nucléaire Palisades

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

In 2018, Holtec reached an agreement with Entergy to purchase the Palisades nuclear power plant ahead of its scheduled closure, with the aim of dismantling the plant by 2041. However, following the acquisition completed in June 2022, shortly after the reactor shutdown, Holtec revealed plans to apply for federal funding to be able to reopen the plant, receiving the support of Michigan Governor Gretchen Whitmer.

Government support and reopening objectives

Michigan’s fiscal 2024 state budget, signed by Whitmer, allocates $150 million to restart the plant. Whitmer pointed out that the reopening of Palisades would protect 600 well-paid jobs and provide clean, reliable energy to 800,000 homes. She added that Palisades, once open, would be the first successfully restarted nuclear power plant in U.S. history, generating a regional economic impact of $363 million.

Reauthorization process and agreements

In October 2023, Holtec officially began proceedings with the US Nuclear Regulatory Commission (NRC) to obtain reauthorization to restart Palisades, having already signed a long-term power purchase agreement with the non-profit Wolverine Power Cooperative for the sale of energy produced by the restarted plant. With NRC approval, the project aims to return the plant to service and upgrade it to produce clean baseload power until 2051, according to the Department of Energy (DOE).

Restarting Palisades would avoid around 4.47 million tonnes of CO2 emissions per year, or a total of 111 million tonnes over the next 25 years. Jennifer Granholm, U.S. Secretary of Energy, emphasized the crucial role of nuclear power as the leading source of carbon-free electricity, directly supporting 100,000 U.S. jobs. The Palisades project enjoys significant support from President Biden’s “Investing in America” plan, becoming the first project to receive a conditional commitment under the Energy Infrastructure Reinvestment (EIR) program under the U.S. Inflation Reduction Act (IRA).

California-based Radiant will build its first microreactor production facility in Oak Ridge, on a former Manhattan Project site, with production targeted at 50 units per year by 2028.
EDF restarted the Flamanville EPR reactor after repairing non-compliant valves, delaying the target of reaching full power output of 1,620 MW until the end of autumn.
Nano Nuclear and the University of Illinois will begin drilling operations for the KRONOS MMR™ reactor on October 24, marking a key step toward commercialisation of the nuclear project on the Urbana-Champaign campus.
Natura Resources is finalising construction of the MSR-1, an advanced liquid-fuel nuclear reactor, with a planned launch in 2026 on the Abilene Christian University campus.
JPMorganChase commits $10bn in direct investments as part of a $1.5tn plan to boost energy independence and strategic technologies, including next-generation nuclear power.
A roadmap under development aims to establish regulatory and technical foundations for the deployment of small modular reactors, with the goal of strengthening national energy security and attracting private capital.
EDF adjusts its 2025 nuclear production forecast to between 365 and 375 TWh, supported by the performance of its industrial programme START 2025 focused on maintenance efficiency.
The United Nations nuclear agency is urging Ukraine and Russia to establish a local ceasefire to repair damaged power lines at the Zaporizhzhia plant, which remains on alert after losing all external power supply.
Deep Isolation is calling on First Mover States to incorporate radioactive waste management into their joint strategy to ensure the industrial viability of new nuclear reactors.
Canada’s nuclear regulator has approved the launch of a new building that will store used steam generators from Bruce Power's refurbishment programme.
Costain has been selected to upgrade essential utilities at the Sellafield nuclear site under a contract worth up to £1bn over fifteen years.
A 5,000-megawatt nuclear programme will be launched by the South African government with NECSA to support national electricity supply and reduce power cuts.
Canada’s IsoEnergy will acquire Australia’s Toro Energy for AUD75mn ($49mn), creating a diversified uranium production platform with assets across Australia, Canada and the United States.
The upcoming Sizewell C nuclear power plant secures its fuel supply through agreements signed with Urenco and Framatome, marking a key step in strengthening the United Kingdom’s long-term energy stability.
The construction of Uzbekistan’s first small modular reactor (SMR) is underway, with 1.5mn m³ of earth being excavated in Jizzakh, marking a major milestone for the nuclear project led by Rosatom.
A nationwide debate on radioactive waste strategy begins on October 13 for four months. It will accompany the preparation of the next five-year roadmap regulating storage, treatment and funding policies through 2031.
Holtec International has ended its planned interim nuclear storage facility in New Mexico, citing ongoing legal hurdles and political deadlock over spent fuel management.
An international audit led by the International Atomic Energy Agency confirms that Spain has fully addressed the recommendations made in 2018 regarding its nuclear waste management programme.
EDF anticipates a 35 MW decrease in output for the Flamanville EPR between 2026 and 2031, citing a degraded performance level with no official technical explanation to date.
Nuclear Power Corporation of India Ltd has pushed the Bharat Small Reactors proposal deadline to 31 March 2026, aiming to expand private sector engagement in the captive nuclear energy project.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.