COVERT, Mich. — Holtec International and Wolverine Power Cooperative announced Tuesday they have signed an agreement that will culminate in the restart of the Palisades Nuclear Power Plant.
Wolverine will purchase as much as two thirds of the plant’s generated power for its electric organizations, according to Holtec.
Holtec Nuclear Generation & Decommissioning President Kelly Trice released the following statement:
"We are thrilled to enter into this partnership. The executed power purchase agreement represents a significant milestone in our journey towards reopening the plant, a historic moment for Michigan and the country. The repowering of Palisades ensures Michigan has sufficient energy to meet future demand and mitigate the impact of climate change, while creating hundreds of high-paying Michigan jobs, expanding the local tax base, and unleashing economic opportunity within the region and beyond. With key support from federal partners, Governor Whitmer, the Michigan legislature, and the local plant community, this will soon be a reality."
We’re told Wolverine’s cooperatives distribute electricity to homes in rural areas in most of the Lower Peninsula.
After being shut down in May 2022, the Palisades plant is poised to become the nation’s first successfully restarted nuclear facility, Holtec says. The company applied for a federal loan earlier this year to restart the plant.
Holtec adds should the plant restart successfully, it would reduce the state’s need for imported energy and boost electric stability with carbon-free energy.
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