Michigan May Pony Up $300M to Restart Nuclear Reactor

Michigan is considering a plan of action that would see the state pony up $300 million to help restart the 800 MW Palisades nuclear reactor.

The Palisades power plant is in the process of being decommissioned following its sale to Holtec International in 2022. According to Power Engineering, Holtec is interested in reopening the plant and is hoping to receive federal backing via a $6 billion Department of Energy fund specifically for keeping nuclear power alive.

Holtec has an ally in Michigan Governor Gretchen Whitmer. Nuclear power plays an important role in Gov. Whitmer’s climate goals, with a spokesperson saying the plant is a “critical energy source and economic driver.”

In order to help the plant reopen, Michigan may need to provide up to $300 million in bridge funding until federal funds are approved and can provide the bulk of the necessary investment.