🎉 Exciting News! The U.S. Department of Energy's Loan Programs Office (LPO) has announced a conditional commitment of up to $1.52 billion for a loan guarantee to Holtec Palisades LLC to restore and resume service of the Palisades Power Plant in Michigan.
The Palisades Power Plant, a single-unit pressurized water reactor nuclear station with a capacity of about 800 MW, is set to be repowered and brought back into commercial operation by the end of 2025. This is a significant step towards ensuring reliable, around-the-clock electricity for Michigan families and businesses while also contributing to mitigating climate change.
The project is expected to support or retain up to 600 jobs in Michigan, with approximately 45% of the workforce at the site being union labour upon restart. Further, during the facility's regularly scheduled refuelling and maintenance periods every 18 months, the loan guarantee would support more than 1,000 jobs. 💪
This project aligns with President Biden's "Investing in America" agenda, supporting good-paying, high-quality job opportunities across the country while expanding access to affordable clean energy resources.
Congrats to all involved in making this happen 🎉
Let's discuss the implications for the nuclear industry, energy transition and sustainability.
#NuclearEnergy #ReturnToService #EnergyTransition #Sustainability
Read more in the DOE/Loan Program press release: