"U.S. Government to Provide $1.5 Billion Loan to Restart Michigan Nuclear Power Plant"
The Biden administration is set to offer a $1.5 billion loan to Holtec International Corp to restart the Palisades nuclear plant in Michigan, marking the first restart of a shuttered US nuclear reactor. This move reflects the administration's support for the nuclear industry as part of its efforts to meet ambitious climate goals. The funding, backed by a loan guarantee program, aims to revitalize old energy plants and would make Palisades the first nuclear reactor financed by the Biden administration.