The Trump administration on Thursday said it issued a fifth installment of a loan guarantee for Holtec International's Michigan nuclear plant, which the company hopes will be the first U.S. reactor to restart after shuttering.
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The Department of Energy said it has now disbursed more than $83 million of the up to $1.52 billion loan guarantee for the 800-megawatt Palisades reactor.
The conditional loan guarantee was initiated by former President Joe Biden's Loan Programs Office to support nuclear energy, which generates virtually emissions-free power, to help satisfy rising electricity demand from data centers and artificial intelligence.
Since then Constellation Energy (CEG.O), opens new tab said it would reopen the former Three Mile Island nuclear power plant in Pennsylvania, widely known as the site of a partial meltdown in 1979 that chilled the nuclear industry. Constellation said in June that the plant could restart in 2027, about a year ahead of schedule.
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