U.S. President Joe Biden, on March 31, 2022. (REUTERS/Kevin Lamarque/File Photo)
The Palisades plant is along Lake Michigan, a two-hour drive from Chicago. A Michigan utility, CMS Energy, owned it from 1971 until the plant was sold to Louisiana-based utility Entergy in 2007. It was shut down in 2022.
Holtec said it has long-term commitments so far from two electric cooperatives to buy power from the plant.
"The repowering of Palisades will restore safe, around-the-clock generation to hundreds of thousands of households, businesses and manufacturers," said Kris Singh, Holtec president and chief executive.
Critics, however, have emerged. A coalition opposed to restarting what it derisively calls a "zombie reactor" has requested a hearing at the NRC.
Holtec spokesman Patrick O'Brien said it will take four to five months to finalize the financial deal with the government.
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"It is a loan we have to pay back," he said.
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