Holtec International and Wolverine Power Cooperative, a not-for-profit power generation cooperative, have signed a long-term agreement to restart the 805 MW Palisades nuclear power plant in Michigan (United States). The pact includes a power purchase agreement, with Wolverine buying two-thirds of the power plant's output for its rural electric cooperatives in Michigan, and Wolverine’s non-profit rural electric cooperative project partner, Hoosier Energy, purchasing the rest. This partnership aims to provide reliable and clean power, while supporting Michigan's carbon reduction goals.
Palisades, acquired by Holtec in June 2022, after the May 2022 shutdown, may become the first successfully restarted nuclear power plant in the United States. The nuclear power plant began commercial operation in 1971 and was acquired by Entergy in 2007 from Consumers Energy; it operated under the framework of a 15-year power purchase agreement (PPA) that expired in the spring of 2022. Following the removal of used fuel from the reactor, the plant was transferred to Holtec International for purposes of decommissioning. Holtec has applied for federal loan funding to repower the plant in early 2023 and is working closely with the US Department of Energy and the Nuclear Regulatory Commission.