After Holtec announced last year its intent to bring the 777-MWe pressurized water reactor back on line to help meet growing energy demand, NRC staff conducted the review. While this is another step forward for the project, the NRC has yet to issue the operating license that Holtec needs to actually restart the plant, which the company hopes to do by the end of 2025.
Quotable: Holtec called the NRC’s final report “a major milestone on our regulatory path to reauthorize plant operations and return 800 megawatts of safe, clean, and around-the-clock generation back to the U.S. grid.” Spokesperson Nick Culp said the project is on track and on budget to restart by the fourth quarter.
“The Palisades restart comes at a critical time as our country works to bolster its domestic energy security and meet growing demand for baseload electricity. Nuclear is a vital piece of our nation’s energy strategy. With the restart of Palisades and the future deployment of new reactors, the U.S. is reaffirming its role as the global leader in nuclear power,” Culp said.
Background: Based on the EA, the NRC made the preliminary determination earlier this year that the proposed actions would not significantly affect the “quality of the human environment,” according to its January 31 notice in the Federal Register.
The commission held public hearings and solicited comments online and by mail before issuing this final assessment.
A closer look: Previous owner Entergy ceased operations at Palisades in May 2022 and the following month transferred its license for the plant to Holtec Decommissioning International, a subsidiary of Holtec, for decommissioning. However, plans shifted, and with the help of grassroots stakeholders and state and federal lawmakers, Holtec announced plans to recommission the site.
Holtec has asked that the plant’s license be transferred from HDI to Palisades Energy.
Palisades’ current license expires in March 2031, so Holtec is asking the NRC in parallel for a subsequent license renewal that would allow the plant to operate until at least 2051.
The plan to restart Palisades has garnered more than $3.1 billion in funding: a $1.5 billion loan guarantee from the Department of Energy, $3 million from the state of Michigan, and another $1.3 billion from rural electric cooperative grants.
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