The U.S. Department of Energy (DOE) has released another round of funding to support the restart of the Palisades Nuclear Plant in Michigan. On Tuesday, Energy Secretary Chris Wright confirmed that Holtec, the company leading the restart, received about $156 million from a federal loan guarantee.
This is part of a larger $1.52 billion loan package to help bring the plant back online. Palisades will be the first nuclear power plant in the country to restart after being shut down for decommissioning, though the project still requires approval from the Nuclear Regulatory Commission (NRC).
When up and running, the plant will generate 800 megawatts of steady, clock-round electricity—enough to add some much-needed backbone to Michigan’s power grid and keep homes and businesses affordable.
Secretary Wright credited the project as a reflection of the federal government’s commitment to increasing U.S. energy production. “With initiatives like Palisades, we’re working to reduce the cost of energy and ensure Americans have access to secure, reliable power,” he said.
This is the sixth loan payment Holtec has seen since the DOE paid off the loan in September 2024. The business thus far has pulled down around $491 million to progress the project. Latest reports include NRC approval of the principal licenses and environmental studies that will allow Palisades to progress from decommissioning status to approach toward operation.
While the Palisades restart focuses on bringing an existing nuclear plant back online to supply power, Oklo’s planned facility in Tennessee highlights another side of America’s nuclear push—developing new ways to recycle used fuel for future reactors
The release further refers to the DOE’s role in fulfilling President Trump’s executive order for strengthening America’s nuclear sector through project support for extending or restarting nuclear power plants.
Project Factsheet: Palisades Nuclear Plant Restart
Location: Covert Township, Michigan
Owner/Developer: Holtec International
Funding: Up to $1.52 billion federal loan guarantee
Latest Disbursement: $155.9 million (sixth payment)
Total Disbursed So Far: $491 million
Planned Capacity: 800 MW of baseload power
Status: NRC approvals underway; transitioning from decommissioning to operations
Significance: First U.S. commercial nuclear plant restart after decommissioning
Impact: Strengthens Michigan’s power grid, supports reliable and affordable energy supp
