Covert, MI — Governor Gretchen Whitmer applauded the Biden/Harris administration for their help to reopen the shuttered Palisades Power Plant. The U.S. DOE finalized a $1.52 billion loan agreement with Holtec International to aid in the restart of the Palisades Nuclear Power Plant, and the USDA awarded over $1.3 billion to support the restoration of service at the plant and lower energy costs, including an over $650 million grant to Wolverine Power Cooperative to reduce the cost of power produced at Palisades. These investments will support Palisades in becoming the first successfully restarted nuclear power plant in American history, providing clean, reliable energy for 800,000 homes, and protecting 600 jobs, many of them filled by workers who have been at the plant for more than 20 years with approximately 45% of the workforce at the site being good-paying union labor upon restart.
“Reopening Palisades will keep energy costs low, shore up domestic energy production, and secure Michigan’s competitiveness for future economic development,” said Governor Whitmer. “Thanks to the Biden-Harris administration, the State of Michigan, the Michigan Legislature, Holtec, and Wolverine, work will continue to restart operations at Palisades. Once complete, Palisades will become the first successfully restarted nuclear power plant in American history, protecting 600 union jobs at the plant, 1,100 in the community, and access to clean, reliable power for 800,000 homes. We will lead and build the future here in Michigan with the strongest clean energy labor standards in the nation, and tools to build more renewable energy faster. Let’s keep getting it done.”
A 2023 study from the Economic Growth Institute at the University of Michigan determined the reopening of the plant will boost the local economy by $90 million in gross personal income each year, and $40 million in annual tax revenue. Additionally, the study revealed that the shutdown of the plant led to an annual loss of $259 million for the region. The reopening will reverse the loss, growing the regional economy, and building prosperity for workers and their communities.
State Representative Joey Andrews lauded the reopening of the plant and the saving of jobs.
“Michigan needs more clean energy production to meet our decarbonization goals,” said state Rep. Joey Andrews (D-St. Joseph). “I am proud to see Southwest Michigan lead the nation as the first to restart a nuclear power plant with the reopening of Palisades. This historic achievement ensures we are advancing our economy, providing Michiganders with high-paying job opportunities and making strides toward our clean energy goals. I am grateful for the continued support and investments in the future well-being of our community.”
According to a release by the Whitmer administration, on September 5, 2024, President Biden announced an over $650 million USDA grant to Wolverine in new Energy Infrastructure Reinvestment program financing to purchase approximately 435 MW of clean, carbon-free wholesale energy from Palisades to serve its members across rural Michigan. The crucial EIR financing is available through the historic IRA, and the project is expected to support key initiatives such as low-income community-serving solar, skilled trades training, agricultural investments and energy efficiency programs, which will benefit communities across rural Michigan for decades to come.
