Biden to Offer $1.5 Billion Loan to Restart Michigan Nuclear Power Plant
- Holtec’s Palisades nuclear plant could be first to re-open
- Funding comes as Biden seeks to keep nuclear plants online
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The Biden administration is poised to lend $1.5 billion for what what would be the first restart of a shuttered US nuclear reactor, the latest sign of strengthening federal government support for the atomic industry.
The funding, which is set to get conditional backing from the US Energy Department, will be offered as soon as next month to closely held Holtec International Corp. to restart its Palisades nuclear plant in Michigan, according to people familiar with the matter.