The Biden Administration could loan $1.5 billion to Holtec International as soon as February to restart Van Buren County’s Palisades Nuclear Power Plant.
If Holtec receives approval from the U.S. Department of Energy, the Palisades plant in Covert would be the first shuttered nuclear reactor in American history to be reactivated.
The Nuclear Regulatory Commission also has to reauthorize power operations to allow Holtec to move forward with plans.
“The support for Palisades coming back is overwhelming in this local community,” Nick Culp, spokesperson with Holtec International, said.
With the Biden Administration stepping up and Gov. Gretchen Whitmer pledging a $150 million investment from the state budget, Culp told News Channel 3, the future of carbon free energy is looking bright.
“As state’s like Michigan move to transition from fossil fuels to having reliable around the clock, clean electricity is absolutely essential,” Culp said.
The 432-acre plant generates 800 megawatts of power, providing 800,000 households with electricity across West Michigan.
We are showing the world that Michigan will be an epicenter of clean energy production and do what it takes to save jobs, protect local communities, and deliver reliable power to homes and small businesses.” – Governor Gretchen Whitmer
The plant would create 600 high paying jobs, according to Holtec.
“The average salary here is $117,000, which goes a significant way to provide a boost to the local economy,” Culp said.
Holtec International has submitted licensing actions to the Nuclear Regulatory Commission.
“NRC will only authorize the restart if Holtec shows usage of material in a safe matter to the public and environment,” Prema Chandrathil, NRC spokesperson said.
The company hopes to have the two new reactors up and running by mid-2030.
The two new reactors would generate a combined 600 megawatts of power to the grid, almost doubling the plant’s total carbon-free generation capacity.
“This is a historic opportunity for not only our state but for the us,” Culp said. “This is really showing the United States, global energy leadership. Bringing Palisades back on line is not only restoring that generation, but showing we can lead the world.”
A decision from the Department of Energy is expected in the upcoming months.
Source: CBS Local News Channel 3