(WWJ) — The owner of a shuttered nuclear power plant in West Michigan is getting a massive grant from the federal government to reopen the facility.
“Palisades is coming back,” Gov. Gretchen Whitmer said Wednesday, announcing the Holtec International-owned plant will be reopening after shutting down operations in 2022.
Whitmer and Holtec officials announced Wednesday the U.S. Department of Energy has decided to issue a conditional commitment for an up to $1.52 billion loan to restart the Palisades Nuclear Power Plant.
Once back up and running, Palisades will be the first successfully restarted nuclear power plant in American history, officials said.
Officials say the loan will “protect 600 good-paying local union jobs” and provide clean power to up to 800,000 homes.
Whitmer said restarting the plant is part of Michigan’s plan for cleaner energy.
“We will lead and build the future here in Michigan with our 100% clean energy by 2040 standard, the strongest clean energy labor standards in the nation, and tools to build more renewable energy faster,” she said, per a press release.
Former Michigan governor and current Energy Secretary Jennifer Granholm was on-hand for Tuesday’s announcement, saying restarting the plant will be important for Southwest Michigan.
“I know what this means to this community. I know it means jobs, I know it means livelihoods, I know it means identity, I know it means dignity,” Granholm said.
Holtec President and CEO Dr. Kris Singh called the decision to fund the plant’s reopening “a triumph for the United States in our collective pursuit of a clean and dependable energy future.”
The plant — located in Covert, along the shores of Lake Michigan between South Haven and Benton Harbor — was closed in May of 2022 and sold to Holtec the following month.