The Biden administration said on Monday that a final deal had been made to give an energy company a $1.52 billion loan guarantee to bring a Michigan nuclear power plant back to life.

Marking the first-ever revival of a nuclear power plant in the U.S., the Department of Energy (DOE) on Sept. 30 finalized a $1.52 billion loan guarantee to Holtec International to support the recommissioning of the 800-MW Palisades nuclear plant in Covert Township,

The Palisades nuclear plant in Michigan has finalized a $1.5 billion federal loan to support the first reactor restart in U.S. history.

No one has ever restarted an American nuclear reactor that was seemingly closed for good. But with electricity demand spiking, interest is growing.

Michigan nuclear plant Palisades closed a $1.5 billion loan to restart its reactor, which is a first in U.S. history.

The federal government has announced the approval of a $1.52 billion loan to support the reopening of a nuclear power plant in Van Buren County. (Sept. 30, 2024)

The restart of the reactor at Palisades would mark a milestone for the nuclear industry after a decadelong wave of reactor shutdowns in the U.S.

A new U.S. nuclear energy age may be dawning after years of false starts and dashed hopes. Why it matters: The data centers powering the AI revolution have an insatiable thirst for energy. Major stakeholders — in Washington,