DOE issues fifth Palisades loan for reactor restart

The Palisades Nuclear Plant may become the first-ever recommissioned retired nuclear power plant in US history. The Department of Energy announced that it has given the site’s owner, Holtec, the fifth part of a substantial loan that aims to bring the Palisades Nuclear Plant back online following the closure of the site in 2023. Holtec decommissioned the site following reports that it struggled to meet the levels of production that the coal and gas sites have delivered. The site was hemorrhaging money and was subsequently shut down, but the loan from the DOE has allowed Holtec to begin preparations for full-scale operations soon.

The DOE has disbursed $83 million to Holtec to bring Palisades back online

It is exceedingly rare for a nuclear plant to be brought back from the dead to once again provide energy to the American people. In fact, it has never happened before. The $83,234,156 disbursement is the fifth installment of a $1.52 billion loan guarantee from the DOE to Holtec for the Palisades plant. The site is close to full operational status and can count on the support from the Trump administration-led Department of Energy.

The total amount of money being lent to Holtec is staggering to say the least. To date, $335,112,194 of DOE-guaranteed loan funds have been awarded to fund the reopening of the Palisades nuclear plant, which is in Covert Township, Michigan. The region can count on the Trump administration to provide reliable jobs at the site for the foreseeable future, as once the site becomes operational, the expectation is that it will deliver power until 2050 at the very least.

The DOE is working in tandem with the new administration’s policies and executive orders

The DOE has aligned itself perfectly with the Trump administration’s new approach to the energy sector. The nuclear sector, in particular, has been bolstered by the executive orders that the President has signed into law. Executive Order No. 14302, Reinvigorating the Nuclear Industrial Base, aims to reinvigorate the nuclear sector in the United States by providing funding for the restart of nuclear plants.

The Palisades Nuclear Plant provides America with crucial power from a single 805-MW pressurized water reactor unit. The loan provided by the DOE to Holtec has been awarded in several phases, including:

• $38m in January 2025
• $56.8m (March)
• $46.7m (April)
• $100.5m (June)
• $83.2 million (August)

The Secretary of the Interior has welcomed the announcement of the loan. Several countries around the world have made significant investments in the nuclear sector and have plans to increase their reliance on nuclear power. The United States is aiming to fast-track any projects that could provide Americans with a reliable source of energy for years to come.

“Thanks to President Trump, the Department of Energy is working in tandem with our regulatory partners to accelerate the reopening of the Palisades Nuclear Plant and unleash a true American nuclear renaissance. These efforts will help reinvigorate our nuclear industrial base, deliver lower energy costs for millions of Americans and strengthen our nation’s energy security.” – US Secretary of Energy Chris Wright

Nuclear-powered plants are making a comeback thanks to the Trump administration’s policies

In the post-World War 2 era, nuclear became a bad word that had a lot of negative connotation attached to it. The fear around the insatiable power of nuclear energy was ever-present in the society of the time. However, the world has made significant progress in making nuclear sites a safer place to work and deliver crucial energy to feed the American appetite. The Palisades site could become the first ever recommissioned nuclear power plant in US history. And the average American can reap the benefits of the new nuclear approach that the Trump administration has championed.