Shuttered Michigan nuclear plant moves closer to reopening under power purchase agreement

A company seeking to restart a southwestern Michigan nuclear power plant says it has taken a major step forward with the signing of a power purchase agreement. Holtec International said Tuesday that a subsidiary, Palisades Energy LLC, signed the deal this week with Wolverine Power Cooperative, a not-for-profit energy provider serving rural communities across Michigan. Under the agreement, Wolverine agrees to purchase up to two-thirds of the power generated by Palisades for its Michigan-based member rural electric cooperatives. A partner, Bloomington, Indiana-based cooperative Hoosier Energy, will purchase the rest.