Original Report: www.nytimes.com(full story)
- U.S. Energy Department finalizes a $1.52 billion loan guarantee
- Rural electricity providers to receive $1.3 billion in federal grants
- Holtec International aims to reopen the Palisades nuclear plant by 2025
The Energy Department announced a substantial $1.52 billion loan guarantee on Monday to assist in revitalizing a defunct nuclear facility in Michigan, underscoring a growing governmental endorsement for nuclear energy. Additionally, two rural electricity suppliers planning to source power from the rejuvenated reactor will obtain $1.3 billion in federal grants, part of a Congressional initiative aimed at equipping rural communities to address climate change.
Holtec International is set to inspect and refurbish the Palisades nuclear plant in Covert Township, which halted operations in 2022. The objective is to secure regulatory approval to recommence operations by October 2025.
After an extended period of stagnation, interest in America’s nuclear sector is noticeably escalating. Both Congress and the Biden administration have allocated billions of dollars to ensure older plants remain operational and to facilitate the construction of new reactors. Despite apprehensions regarding expenses and waste management, nuclear facilities can provide continuous electricity without contributing to greenhouse gas emissions, a critical factor in climate change mitigation.
David Turk, the Deputy Secretary of Energy, highlighted an anticipated growth in U.S. electricity demand by 15% in the forthcoming years, fueled by a rise in electric vehicles, the expansion of battery and solar manufacturing, and emerging data centers for artificial intelligence. This surge necessitates new, low-carbon power sources capable of steady operation, complementing wind and solar energy.
“It’s been incredible to see nuclear power become part of that conversation in a way that just wasn’t happening before,” Mr. Turk remarked.
