Following the news of the Three Mile Island restart plans, it looks like our assertion that 'nuclear is back' is correct.
That's because this week the U.S. closed on a deal to resurrect another nuclear plant, Holtec's Palisades nuclear plant in Michigan, thanks to a $1.52 billion loan from the Biden administration, according to Reuters.
A senior Biden administration official stated that reopening the plant could take up to two years—longer than the company's estimate.
The Reuters report said that the administration aims to triple U.S. nuclear power capacity as demand rises and climate concerns grow, which could include restarting decommissioned reactors like Three Mile Island, site of the nation’s worst nuclear accident. Restarting these plants is a complex and costly process that has never been done before in the U.S.
"Palisades is a climate comeback story," said White House climate adviser Ali Zaidi, emphasizing that nuclear power supports high-paying union jobs.
The Department of Energy's Loan Programs Office is providing $1.52 billion in financing, along with $1.3 billion in public funding to power cooperatives Wolverine and Hoosier Energy, for the purchase of power from Palisades. Deputy Energy Secretary Xochitl Torres Small made the funding announcement.
"Palisades is a climate comeback story," said White House climate adviser Ali Zaidi, emphasizing that nuclear power supports high-paying union jobs.
The Department of Energy's Loan Programs Office is providing $1.52 billion in financing, along with $1.3 billion in public funding to power cooperatives Wolverine and Hoosier Energy, for the purchase of power from Palisades. Deputy Energy Secretary Xochitl Torres Small made the funding announcement.
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