US releases $156M for Palisades reactor restart

The Palisades nuclear reactor restart got a significant boost recently when the United States federal government disbursed the sixth installment of a sizable loan to the Palisades owner, Holtec. The federal government is doing everything in its considerable power to bring the Pailsades nuclear reactor back from the dead. When the site becomes operational, following a set of regulatory hurdles it needs to navigate, it will become the very first nuclear reactor to be brought back online. Something that the current President will surely be happy to deliver in his second term.

Nuclear power went from being a fearful destruction tool to becoming the future of the energy sector in the US

Post World War 2 and during the Cold War, even muttering the word nuclear could be seen as a faux pas of the highest order. However, since then, the nuclear reactors in the United States have remained dormant, waiting patiently to be brought back online and deliver reliable power to the US population.

The Pailsades nuclear site is one of the largest in the country and could provide a substantial amount of energy to the grid, once it passes the regulations set in place by the U.S. Nuclear Regulatory Commission.

The US federal government has disbursed $155,944,659 of the up to $1.52 billion loan guarantee to Holtec for Palisades recently. Grid reliability in Michigan could be bolstered by the 800 MW of affordable and reliable baseload power that the Pailsades plant will provide.

The United States Energy Secretary has praised the Trump administration’s leadership

The Department of Energy has praised the new stance the federal government is taking in the energy sector. The department secretary has stated that the American energy sector has benefited massively from the executive orders signed into law by Donald Trump.

“Under President Trump’s bold leadership, the United States is taking unprecedented steps to bring about the next American nuclear renaissance. With projects like the Palisades Nuclear Plant, the Department of Energy is committed to lowering energy costs and increasing domestic energy production, delivering reliable, affordable and secure energy to the American people.”  – United States Energy Secretary Chris Wright

Holtec has received nearly half a billion dollars from the United States government to restart the Palisades reactor

We understand the need to provide reliable, safe, and cheap power to the American citizens; however, it would be remiss of us not to mention the inordinate costs that the Palisades site requires to be recommissioned.

To date, $491,056,853 of DOE-guaranteed loan funds have been disbursed to Holtec specifically to bring the Palisades Nuclear Plant reactor back online. With America in an “energy emergency” according to the current administration, the regulatory bodies have stated that the site poses no significant threat to the environment. The nuclear sector has been bolstered by several new projects aimed at increasing the standing of nuclear power in the US.

Today’s announcement reinforces the Energy Department’s leading role in advancing President Trump’s Executive Order 14302, Reinvigorating the Nuclear Industrial Base, through funding the restart of nuclear plants. DOE remains committed to use all tools at its disposal, including the LPO, to support projects that advance baseload energy sources, strengthen the grid, and lower costs for the American people.” – US Department of Energy

Nuclear power remains a steadfast energy resource all around the world

Nuclear power is dangerous; however, recent innovations in safety and training programmes have meant that nuclear power no longer has a negative connotation attached to it, and if properly managed, could become the most dominant energy resource around the world. News of a massive nuclear project in South Africa is evidence of the global embrace of the potential that nuclear power poses. Will the Pailsades nuclear site deliver the same effect on the US energy sector?