Press Releases

Today, Congressman Bill Huizenga (R-MI) issued the following statement after U.S. Department of Energy (DOE) Secretary Chris Wright announced the second loan disbursement to Holtec for the Palisades Nuclear Power Plant, releasing $56,787,300 of the up to $1.52 billion loan.

“I want to thank President Trump and Secretary Wright for advancing Southwest Michigan’s role in our mission to unleash American energy production and strengthen our national energy security,” said Congressman Bill Huizenga. “I am proud to have led the charge in Congress to support Holtec’s historic repowering of Palisades Nuclear Power Plant. Today’s decision is another key step towards providing 800MW of safe, carbon-free, and reliable energy as well as jobs and lower energy costs for our communities.”

In December 2023, Huizenga led a bipartisan letter to the Department of Energy requesting a timely and responsible review of the DOE loan application to repower Palisades. In September 2024, the Department of Energy officially closed on the loan commitment of up to $1.52 billion to repower Palisades Nuclear Power Plant in Covert, Michigan. Palisades could be the first-ever recommissioning of a nuclear power plant. The plant’s owner, Holtec International, is also planning to build two industry-first small modular reactor (SMR) units at the site which have the innovative potential to generate even more reliable carbon-free energy. The project is expected to bring hundreds of highly skilled, good paying jobs to Southwest Michigan.

Background From U.S. Department of Energy

U.S. Department of Energy (DOE) Secretary Chris Wright today announced the release of the second loan disbursement to Holtec for the Palisades Nuclear Plant. Today’s action releases $56,787,300 of the up to $1.52 billion loan guarantee to Holtec for the Palisades project, which will provide 800MW of affordable, reliable baseload power in Michigan.

“Unleashing American energy dominance will require leveraging all energy sources that are affordable, reliable and secure - including nuclear energy,” said Secretary Wright. “Today’s action is yet another step toward advancing President Trump’s commitment to increase domestic energy production, bolster our security and lower costs for the American people.”

The Palisades Nuclear Plant will be America’s first restart of a commercial nuclear reactor that ceased operations, subject to U.S. Nuclear Regulatory Commission (NRC) licensing approvals. The project is projected to support or retain up to 600 high-quality jobs in Michigan––many of them filled by workers who had previously been at the plant for over 20 years.

Today's disbursement is Holtec’s second disbursement of funds from the Loan Programs Office (LPO) since its financial loan close in September 2024. LPO funds go toward the plant restart and ensuring the plant is NRC compliant.

This announcement highlights DOE’s commitment to advance President Trump’s agenda of unleashing affordable, reliable, and secure energy through investing in projects across the country that support American jobs, bolster domestic supply chains, and strengthen America’s position as a world energy leader.