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The Biden administration could lend $1.5 billion to Holtec International as early as next month to restart Michigan's shuttered Palisades nuclear power facility.
Holtec filed a petition with the US Nuclear Regulatory Commission in October to reopen the 800-megawatt Palisades reactor, claiming that it has also asked for a loan to assist in restarting the plant. In 2022, Florida-based Holtec acquired Palisades from Entergy to decommission it.
However, as governments look for lower-emission electricity sources in the fight against climate change, a growing interest in carbon-free power generation has given nuclear technology a fresh lease on life.
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