COVERT, Mich. — The owner of the Palisades Nuclear Power Plant applied for a $1.5 billion grant to reopen the facility.
The U.S. Energy Department will loan the money to Holtec International, according to an initial report from Bloomberg. The massive fund may be allocated before March.
The federal award is in addition to the $150 million the state of Michigan reserved to get the plant running again.
Governor Whitmer’s administration says restarting the plant is a top priority due to Michigan’s need for more carbon-free energy.
The plant was shut down in May 2022 before it was sold to Holtec weeks later. Their goal is to reopen the plant in late 2025.
READ MORE: Palisades nuclear power plant plans to build two small modular reactors
