Palisades Nuclear Plant Secures $1.5 Billion Loan for Historic U.S. Reactor Restart. Owner Holtec International Aims to Double Capacity by 2030s

The Palisades nuclear plant in Michigan secured a $1.5 billion loan to restart its reactor by late 2025, marking the first U.S. reactor restart in history. Holtec International, the plant’s owner, will use the funds for inspections, equipment replacements, and restoration work, pending approval from the U.S. Nuclear Regulatory Commission. The plant shut down in 2022 due to competition from cheap natural gas. The restart would help meet the growing demand for carbon-free energy as the U.S. seeks to hit its climate targets. Holtec plans to double the plant’s capacity in the 2030s by introducing small modular reactors, speeding deployment, and lowering costs.