When is the Palisades nuclear plant going to reopen? Holtec officials release new details
COVERT TWP. — Officials from Holtec International, owner of Palisades Power Plant in Covert Township, provided more information on their plans to reopen the shuttered plant during a meeting with the Nuclear Regulatory Commission on Tuesday.
The groups met for a pre-submittal meeting Tuesday, Oct. 3, regarding a license transfer application to support the resumption of power operations at the plant. During the meeting, Holtec provided information on a proposed plant operator and a potential timeline for the plant to reopen.
Holtec is currently seeking a loan from the U.S. Department of Energy to support the restart of Palisades, which closed in May 2022 after 50 years in operation. No updates on the loan or when a decision may come were given Tuesday.
More: Power purchase agreement moves Palisades one step closer to restart
More: Funding to support Palisades restart included in state budget
What does Holtec need in order to reopen the plant?
In order to reopen the plant, Holtec needs the NRC to restore the operating license for Palisades, which was valid through 2031 prior to the plant shutting down. Holtec is planning to apply for a license transfer agreement, putting the operating license under a company being created by Holtec.
The operating company, temporarily referred to as OPCO, is still in development, but would be responsible for operations at Palisades. Holtec would own the company and provide corporate support. The new company would not replace other Holtec operations and would not affect other decommissioning efforts, such as the decommissioning of Big Rock Point in Charlevoix.
Officials said the company plans to apply for the license transfer this month, with possible approval in November 2024 and an effective date of August 2025. The latter date is the current target for restarting power operations at Palisades.
How can closed nuclear plants be reopened?
Even though efforts to restart the plant have been ongoing, decommissioning work continues on-site. All work done up to this point, officials say, could be reversed should the plant move to reopen.
While the projects are happening at the same time, Holtec’s Jean Flemming said decommissioning trust fund dollars are only funding decommissioning. Holtec is funding the restart project.
Although the DoE loan and regulatory decisions still loom, Holtec has cleared several hurdles on its way to restarting Palisades. A power purchase agreement was secured with Wolverine Power Cooperative in September and Michigan bookmarked $150 million in budget funds to aid the plant's transition from decommissioning to operations.
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Who bought Palisades nuclear plant?
Palisades was sold to Holtec for the purpose of decommissioning in June 2022. A plan to restart the plant, with support from Gov. Gretchen Whitmer, was announced several months later, but an initial funding application through the Civil Nuclear Credit Program was denied in November.
The second, ongoing attempt to reopen Palisades launched in early 2023.
— Contact reporter Mitchell Boatman at mboatman@hollandsentinel.com.
This article originally appeared on The Holland Sentinel: Holtec hopes to reopen Palisades Power Plant in August 2025
