Covert, Michigan (Michigan News Source) – The owner of the Palisades Nuclear Power Plant is getting a conditional $1.5 billion loan from the DOE, the next step in reopening the shuttered plant. United States Secretary of Energy Jennifer Granholm made the announcement at the plant in Van Buren County on Wednesday morning.

“It is an unspeakable joy to be here for so many reasons, both as the former governor of Michigan but as a champion for clean baseload power,” Granholm said. “Everything about this operation is impressive, especially the focus on safety, the focus on professionalism, this community’s support for this effort.”

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If Palisades owner Holtec International is successful with this project, the west Michigan Nuclear plant would be the first in the country to return to the grid after being decommissioned. The plant began decommissioning about two years ago when it was owned by Entergy Nuclear.