In the coming years, a nuclear power plant on the shores of Lake Michigan could become the first in the country to restart operations after shutting down.
The Palisades plant in southwest Michigan could be revived by a $1.5 billion loan from the U.S. Department of Energy, Bloomberg reports.
Federal officials have not yet confirmed the funding, but Dr. Kathryn Huff, assistant secretary in the agency’s Office of Nuclear Energy, told Stateline that it would be “exciting” and “historic” to see the plant return to life.
Michigan’s project could be the first of several since the Biden administration also committed to an international pledge to triple nuclear capacity by 2050.
The potential federal investment comes as state leaders in Michigan and elsewhere have worked to preserve their nuclear power capacity.
Both red and blue states have also taken steps to allow for the development of small modular reactors, an emerging technology that backers say can help to power rural areas or industrial operations without the demands of a large plant. Six states—Connecticut, Illinois, Kentucky, Montana, West Virginia and Wisconsin—recently repealed bans on adding new nuclear power, in part to enable such reactors.
Read the full story about the nuclear energy industry from Louisiana Illuminator.