The loan from the DOE to Holtec is aimed at reopening the Palisades plant, showing a strong governmental push towards reestablishing nuclear energy as a viable option for meeting rising electricity demands.
With the Biden administration's commitment to climate goals and the increasing electricity demands in the US, the private sector is getting more optimistic about nuclear energy's potential for a comeback.
Plans for the Palisades nuclear plant's recommissioning are significant, as it would create approximately 600 union jobs and has the potential to power around 800,000 homes.
The White House National Climate Advisor describes the situation as 'a powerful clean energy comeback story,' which encapsulates how nuclear energy can complement renewable sources.
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