The U.S. Department of Energy has announced a $400 million investment in Holtec to deploy two next generation small nuclear reactors (SMR) at the Palisades nuclear plant in Michigan, doubling the site’s generation capacity and providing enough power for 1.4 million households and businesses. // Photo courtesy of Holtec
The U.S. Department of Energy has announced a $400 million investment in Holtec to deploy two next generation small nuclear reactors (SMR) at the Palisades nuclear plant in Michigan, doubling the site’s generation capacity and providing enough power for 1.4 million households and businesses.
The DOE’s investment will help Holtec deploy two SMR-300 advanced nuclear reactors at Palisades that will generate 600 megawatts of reliable, clean energy in addition to the 800 megawatts already generated by the site.
In the same announcement, the Department of Energy awarded $400 million to the Tennessee Valley Authority to advance deployment of a GE Vernova Hitachi BWRX-300 at the Clinch River Nuclear site in Tennessee, as well as accelerate the deployment of additional units with Indiana Michigan Power and Elementl.
The selections announced on Tuesday will help deliver new nuclear generation in the early 2030s, strengthen domestic supply chains, and advance President Donald Trump’s Executive Orders to usher in a nuclear renaissance and expand America’s Energy Dominance agenda.
“President Trump has made clear that America is going to build more energy, not less, and nuclear is central to that mission,” says U.S. Secretary of Energy Chris Wright. “Advanced light-water SMRs will give our nation the reliable, round-the-clock power we need to fuel the President’s manufacturing boom, support data centers and AI growth, and reinforce a stronger, more secure electric grid. These awards ensure we can deploy these reactors as soon as possible.”
Holtec stats it is taking an innovative approach to nuclear reactor deployment at every stage in the process, from setting up the reactors to selling the electricity they generate. The State of Michigan was supported Holtec’s successful application for the DOE’s Gen III+ SMR program.
The investment builds on the announcement made last year to make Michigan the first state in the country to successfully reopen a shuttered nuclear power plant.
The U.S. DOE finalized a $1.52 billion loan agreement with Holtec International to aid in the restart of the Palisades Nuclear Power Plant, and the USDA awarded over $1.3 billion to support the restoration of service at the plant and lower energy costs, including an over $650 million grant to Wolverine Power Cooperative to reduce the cost of power produced at Palisades.
Together, the investments will provide clean, reliable energy for 1.4 million homes, and protect 900 jobs, many of them filled by workers who have been at the plant for more than 20 years with approximately 45 percent of the workforce at the site consisting of union labor upon restart.
“This historic investment will double Palisades’ capacity, provide more clean energy for Michigan homes and businesses, and protect good-paying Michigan jobs,” says Gov. Gretch Whitmer. “By restarting Palisades, we will make history as the first state to reopen a shuttered nuclear plant.”
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