COVERT, Mich. -- US Department of Energy Secretary Chris Wright announced the sixth loan disbursement to Holtec to help fund the restart of Palisades Nuclear Plant has been released.

This means $155,944,659 of the up to $1.52 billion loan guarantee to Holtec for Palisades has been released.

DOE officials say Palisades will be America’s first restart of a commercial nuclear reactor in decommissioning, subject to US Nuclear Regulatory Commission approvals.

Once complete, officials say the plant will generate 800 megawatts of affordable and reliable baseload power, helping to increase grid reliability in Michigan.

“Under President Trump’s bold leadership, the United States is taking unprecedented steps to bring about the next American nuclear renaissance,” said Wright. “With projects like the Palisades Nuclear Plant, the Department of Energy is committed to lowering energy costs and increasing domestic energy production, delivering reliable, affordable and secure energy to the American people.”

Officials say $491,056,853 of DOE-guaranteed loan funds have been disbursed to Holtec since September 2024 from the Loan Programs Office.

The plant has continued to make progress toward restart, including the NRC’s issuance of the final environmental assessment and finding of no significant impact, plus the NRC’s approval of licensing and regulatory actions to transition the Palisades from decommissioning to operations status.

The DOE says it remains committed to use all tools at its disposal, including the LPO, to support projects that advance baseload energy sources, strengthen the grid, and lower costs for the American people.