The US DOE grants fourth loan payment to restart the Palisades nuclear plant

The US group Holtec International has received the fourth loan disbursement (US$100.5m) of the US$1.52bn loan guarantee by the US Department of Energy (DOE) to restart the 800 MW Palisades nuclear plant, located in the US State of Michigan. The US$1.52bn loan was awarded back in September 2024, through the Inflation Reduction Act, to bolster inspections, testing, restoration, rebuilding, and replacement of existing equipment at Palisades. Between September 2024 and April 2025, Holtec International received three loan disbursement by the US Government totalling US$1.52bn for the restart of Palisades. 

The nuclear plant permanently ceased operations in May 2022, and its licence was transferred from previous operator Entergy Nuclear Operations Holtec for decommissioning. However, Holtec announced in late 2023 plans to obtain the licensing approvals needed to return the power plant to operational status for the remainder of its licensing term. Earlier in June 2025, the US Nuclear Regulatory Commission (NRC) issued a positive final environmental impact assessment (EIA) for the proposed restart of the nuclear power plant, which is expected to be recommissioned by the end of 2025. Once operational, the power plant is expected to save about 4.5 Mt/year in CO₂ emissions. Holtec plans to apply for a second licence renewal during the first quarter of 2026, which would extend the power plant's operating period by 20 years, from 2031 to 2051.

There are 95 nuclear reactors currently in operation in the US for a total capacity of over 97 GW. Nuclear accounted for 18% of the US' total generation in 2023 and 2024.