Advocacy News – March 28, 2024
What’s happened: The Department of Energy (DOE) announced the establishment of a $1.5 billion conditional loan to support the re-powering of the Palisades nuclear power plant located in Covert, Michigan.
Why it matters: The plant, which ceased operations in mid-2022, was originally slated for de-commissioning but now intends to be restarted, creating over 1000 temporary and permanent jobs. This will be the first time in the nation’s history a nuclear plant that has been de-commissioned is brought back onto the grid.
What we’re saying: The Michigan Chamber joined regulators, plant workers and other stakeholders at the event announcing the loan, in acknowledgment of the importance this critical piece of Michigan’s energy infrastructure will have on the state’s ability to provide clean electricity to Southwest Michigan. The Governor, who also attended the event, said: “Once operational palisades will provide reliable power to more than 800,000 homes and help us meet our statewide clean energy goals by removing more than 300,000,000 tons of CO2 from the atmosphere annually.”
What’s next: Should efforts to revive the plant continue, the facility should be fully operational and online by the end of 2026. Kelly Trice, president of nuclear generation and decommissioning also stated that the facility will also be used to host the state’s first small modular reactors (SMRs) which represent a modular and more cost-effective approach to generating nuclear energy.
For more information, contact Mike Alaimo at malaimo@michamber.com.