Biden administration will lend $1.5B to restart Michigan nuclear power plant, a first in the US

The federal government will provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan. Officials say it would be the first nuclear power plant to be reopened in the U.S. Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it. But now the emphasis is on restarting it by late 2025. Energy Secretary Jennifer Granholm says nuclear power is a great source of carbon-free electricity. The Palisades plant is along Lake Michigan, a two-hour drive from Chicago. It's been around for more than 50 years. A utility, Entergy, shut it down in 2022.