(TargetLiberty.org) – The Biden administration is set to start giving a $1.5 billion loan to Michigan in order to restart the nuclear power plant in the area.
On Wednesday it was announced that the federal government was going to be supporting the state of Michigan and Holtec International, after the company acquired the 800-megawatt Palisades plant. The goal is to make the plant’s operations restart in late 2025 which will be around three years from the time of the plant being purchased.
As Gov. Gretchen Whitmer said this is going to be the first U.S. nuclear power plant that is going to be reopened. She further pointed out that as part of this process, there is going to be extensive testing, inspections, and the involvement of the U.S. Nuclear Regulatory Commission (NRC) which is going to help approve this project.
Former Michigan governor and Energy Secretary Jennifer Granholm argued that nuclear power was one of the country’s biggest sources of carbon-free electricity and that it would help support thousands of jobs both directly and indirectly.
The Palisades plant is around two hours away from Chicago along Lake Michigan. CMS Energy, a state utility company, had owned the company from 1971 before the plant was sold off in 2007 to Entergy, a Louisiana-based utility. The plant was then shut down in 2022.
Holtec has claimed that they have the commitments of two electric cooperatives that are going to be purchasing power generated by the plant.
However, some have criticized the project pointing out the potential risks involved.
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