COVERT, Mich. -- The U.S. Department of Energy announced a $400 million investment into Holtec to deploy two SMR-300 small modular reactors at the Palisades Nuclear Power Plant.

Officials say these two additional small nuclear reactors will nearly double its generation capacity from approximately 805 megawatts to over 1,400 megawatts, or enough to power 1.4 million homes.

Holtec officials say the new reactors will add another 300 full-time jobs on top of the 600 full-time jobs already created/retained at the existing plant unit.

“Today’s announcement will lower energy costs, reaffirm Michigan’s clean energy leadership, and show the world that we are the best place to do business,” said Michigan Governor Gretchen Whitmer. “This historic investment will double Palisades’ capacity, provide more clean energy for Michigan homes and businesses, and protect good-paying Michigan jobs. By restarting Palisades, we will make history as the first state to reopen a shuttered nuclear plant. I’ll keep working with anyone to grow Michigan’s economy and build a more affordable, clean energy future right here in Michigan. Let’s keep getting it done.”