Holtec’s Dual-Unit SMR-300 Small Modular Nuclear Plant in Perspective View (Credit: Holtec)
$400 million DOE award will help deploy next-generation reactors and power 1.4 million homes and businesses
LANSING, Mich. — Michigan is set to make U.S. history as the first state to successfully restart a shuttered nuclear facility, following the U.S. Department of Energy’s announcement of a $400 million investment in Holtec International to deploy two next-generation small modular reactors (SMRs) at the Palisades Nuclear Plant. The landmark investment doubles the plant’s generation capacity and strengthens the state’s leadership in clean, reliable, and affordable energy.
Governor Gretchen Whitmer celebrated the announcement as a major win for Michigan’s workforce, energy reliability, and long-term economic competitiveness.
“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 Governor 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.”
Expanding Palisades Capacity with Next-Generation Nuclear Technology
DOE’s investment will support the deployment of two SMR-300 advanced nuclear reactors, adding 600 megawatts of clean energy to the 800 megawatts already planned for the site. The combined output will supply enough carbon-free electricity to power 1.4 million households and businesses across Michigan.
Holtec’s innovative approach to advanced nuclear reactor deployment—spanning construction, operation, and energy sales—positioned the company for success in securing federal support. Michigan played a key role in advancing Holtec’s application for DOE’s Gen III+ SMR Program, pushing the project toward national approval.
Building on Historic Momentum for Michigan’s Clean Energy Future
This latest investment builds upon the major federal funding commitments announced last year, which put Michigan at the forefront of nuclear innovation. These include:
- A $1.52 billion DOE loan agreement to help restart the Palisades facility
- More than $1.3 billion in USDA funding to restore operations and reduce energy costs
- A $650 million grant to Wolverine Power Cooperative to lower the cost of power generated at Palisades
Together, these investments will ensure long-term energy affordability, reliability, and resilience for Michiganders—while positioning the state as a national model for next-generation nuclear development.
Protecting Skilled Jobs and Strengthening the Local Economy
Restarting the Palisades Nuclear Plant will protect 900 high-wage jobs, many of which have been filled by long-tenured workers, including a workforce that is approximately 45% union labor upon restart. With decades of operational experience already in place, the plant’s workforce will play a pivotal role in deploying SMR technology and ensuring safe, reliable energy production.
Beyond direct employment, the project will support local businesses, strengthen Michigan’s engineering and construction sectors, and expand opportunities for suppliers across the state’s growing clean-energy economy.
About Holtec International
Holtec International is a global leader in clean energy technology, specializing in advanced nuclear solutions, innovative reactor design, and safe nuclear fuel management. Holtec’s SMR-300 technology is engineered to deliver scalable, emission-free power that supports a secure, affordable, and sustainable energy future.
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