Restarting Nuclear Power Plant in Michigan
The federal government will provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan, which was acquired by Holtec International in 2022. The emphasis is now on restarting the plant by late 2025 with support from the state of Michigan and the Biden administration.
Key Points
- Federal government providing $1.5 billion loan to restart Palisades nuclear power plant
- Holtec International acquired the plant in 2022 with plans to restart it by late 2025
- Support from state of Michigan and Biden administration
Pros
- Nuclear power is a source of carbon-free electricity
- Supports thousands of jobs directly and indirectly
- Restoring safe, around-the-clock generation to households and businesses
Cons
- Critics oppose the restart and have requested a hearing at the Nuclear Regulatory Commission
- Some view the plant as a 'zombie reactor'