DOE Approves Fifth Loan Disbursement to Restart the Palisades Nuclear Plant

August 7, 2025

WASHINGTON—U.S. Department of Energy (DOE) Secretary Chris Wright today announced the release of the fifth loan disbursement to Holtec to help fund the restart of the Palisades Nuclear Plant. Today’s action disburses $83,234,156 of the up to $1.52 billion loan guarantee to Holtec for the Palisades Nuclear Plant, which will be America’s first restart of a commercial nuclear reactor in decommissioning, subject to U.S. Nuclear Regulatory Commission (NRC) approvals.

“Thanks to President Trump, the Department of Energy is working in tandem with our regulatory partners to accelerate the reopening of the Palisades Nuclear Plant and unleash a true American nuclear renaissance,” Secretary Wright said. “These efforts will help reinvigorate our nuclear industrial base, deliver lower energy costs for millions of Americans and strengthen our nation’s energy security.”

This marks Holtec’s fifth disbursement of funds from the Loan Programs Office (LPO) since the September 2024 announcement of the loan’s financial close. To date, $335,112,194 of DOE-guaranteed loan funds have been disbursed to Holtec to help fund the reopening as it continues to make progress toward plant restart, including the NRC’s approval of a series of licensing and regulatory actions to transition the Palisades Nuclear Plant from decommissioning status back to operations.

Today’s announcement highlights the Energy Department’s leading role in advancing President Trump’s Executive Order 14302, Reinvigorating the Nuclear Industrial Base, through funding the restart of nuclear plants. LPO is helping to advance this mission in order to maximize the speed and scale of nuclear capacity in the United States, ensuring Americans have access to reliable, abundant, and affordable energy.