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BumRushDaShow

(129,053 posts) Wed Mar 27, 2024, 04:13 PM Mar 27

Biden administration announces $1.5 billion loan for first reopening of a shuttered nuclear plant

Source: The Hill

03/27/24 3:55 PM ET

The Biden administration on Wednesday announced a $1.5 billion loan to restart a Michigan nuclear power plant. The loan, made through the Energy Department’s (DOE) Loan Program’s Office with Inflation Reduction Act funds, will allow Holtec to restart the Palisades Nuclear Plant in Covert Township. The restoration, if approved by the Nuclear Regulatory Commission, would be the first instance of the U.S. recommissioning a shuttered nuclear plant.

The plant previously operated from around 1977 through 2022, and was acquired by a Louisiana-based utility in 2007. When brought back online, the DOE projects the 800-megawatt Palisades plant will produce power through at least 2051. The state legislature has also allocated $150 million to recommission the facility. The administration and the state of Michigan have set a target of a late 2025 restart.

“Nuclear power is our single largest source of carbon free electricity, directly supporting 100,000 jobs across the country and hundreds of thousands more indirectly,” Energy Secretary Jennifer Granholm, the former governor of Michigan, said in a statement. “President Biden’s Investing in America agenda is supporting and expanding this vibrant clean energy workforce here in Michigan with significant funding for the Holtec Palisades nuclear power plant.”

“Once open, Palisades will be the first successfully restarted nuclear power plant in American history, driving $363 million of regional economic impact and helping Michigan lead the future of clean energy,” Michigan Gov. Gretchen Whitmer (D) said in a statement. “I am so grateful to my bipartisan partners in the Michigan Legislature, the Biden-Harris Administration, Holtec, and labor for coming together to get this done. Together, we are showing the world that Michigan is a place where history is made by hardworking people.”

Read more: https://thehill.com/policy/energy-environment/4560203-biden-administration-announces-1-5-billion-loan-for-first-reopening-of-a-shuttered-nuclear-plant/

Link to Department of Energy PRESS RELEASE - Biden-Harris Administration Announces $1.5 Billion Conditional Commitment to Holtec Palisades to Support Recommission of Michigan Nuclear Power Plant

10 replies

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Biden administration announces $1.5 billion loan for first reopening of a shuttered nuclear plant (Original Post) BumRushDaShow Mar 27 OP

I think those Small Modular Reactors (SMRs)... Think. Again. Mar 27 #1

Good news, particularly if there is an element of new nuclear technology and safety design built into the project as... RussellCattle Mar 27 #2

But is there a way to recycle the radioactive waste from the existing plant? That's the question. TheRickles Mar 27 #3

Well, we hollowed out Yucca Mountain in Nevada and built a "Glassification Facility" in Washington, but politics..... RussellCattle Mar 27 #4

No one wants stored radioactive waste in their state womanofthehills Mar 28 #8

This is a bad idea. Mawspam2 Mar 28 #5

Bill Gates is building a SMR in Wyoming NickB79 Mar 28 #7

That Gates reactor will produce 345 MW womanofthehills Mar 28 #9

This is good... but we need modern designs. Happy Hoosier Mar 28 #6

We don't need any more nuclear reactors womanofthehills Mar 28 #10

Think. Again.

(8,160 posts)

1. I think those Small Modular Reactors (SMRs)...

Reply to BumRushDaShow (Original post)

Wed Mar 27, 2024, 04:17 PM

Mar 27

...will be a more usable set up, but anythng that gets us away from CO2 emissions is what must be done.

RussellCattle

(1,535 posts)

2. Good news, particularly if there is an element of new nuclear technology and safety design built into the project as...

Reply to BumRushDaShow (Original post)

Wed Mar 27, 2024, 04:18 PM

Mar 27

......a precursor to new plants in the future. Actually, on second thought, just the idea of "recycling" an existing facility is kind of a nice move too.

TheRickles

(2,063 posts)

3. But is there a way to recycle the radioactive waste from the existing plant? That's the question.

Reply to RussellCattle (Reply #2)

Wed Mar 27, 2024, 04:37 PM

Mar 27

RussellCattle

(1,535 posts)

4. Well, we hollowed out Yucca Mountain in Nevada and built a "Glassification Facility" in Washington, but politics.....

Reply to TheRickles (Reply #3)

Wed Mar 27, 2024, 04:53 PM

Mar 27

.....seems to stymie all of these efforts and more. When the American public is brought around to the idea that nuclear power is necessary and safe, and waste storage id doable, maybe the "Nimbys" will start losing some battles.

womanofthehills

(8,712 posts)

8. No one wants stored radioactive waste in their state

Reply to RussellCattle (Reply #4)

Thu Mar 28, 2024, 08:04 PM

Mar 28

Also, trucks need to transport that waste & people don’t want those trucks on their highways.

Wind & solar are advancing fast with new technologies. The new Sun Zia wind farm will produce 3500 MW of electricity - way more than your average nuclear reactor which average around 900MW & without radioactive spent rods that can be targets for terrorists.

Mawspam2

(731 posts)

5. This is a bad idea.

Reply to BumRushDaShow (Original post)

Thu Mar 28, 2024, 06:39 AM

Mar 28

There is a reason nuclear plants have a design-life end date. Pipes get old and fracture over time. Pipes bombarded with radiation even more so.

That money would be better spent on perfecting the Small Modular Reactor design plants.

NickB79

(19,246 posts)

7. Bill Gates is building a SMR in Wyoming

Reply to Mawspam2 (Reply #5)

Thu Mar 28, 2024, 09:30 AM

Mar 28

https://www.google.com/amp/s/www.forbes.com/sites/antoniopequenoiv/2024/03/19/terrapower-what-we-know-about-bill-gatess-nuclear-power-plant-in-wyoming/amp/

womanofthehills

(8,712 posts)

9. That Gates reactor will produce 345 MW

Reply to NickB79 (Reply #7)

Thu Mar 28, 2024, 08:18 PM

Mar 28

And the new Sun Zia Wind farm produces 3500MW without toxic radioactive waste.

Gates nuclear reactor will cost $6 billion or more for 345 MW - while Sun Zia complete with transmission lines will cost $8 billion for 3500 watts.

Happy Hoosier

(7,308 posts)

6. This is good... but we need modern designs.

Reply to BumRushDaShow (Original post)

Thu Mar 28, 2024, 08:46 AM

Mar 28

We need as much nuclear capacity as we can get online. The knee-jerk reaction against nuclrear power never made sense, and now we are paying the price for it. But we CAN play catch up.... but it will take a major, coordinated effort. Bring capacity back online. Develop modern, safe, efficient designs. We have at least one generation of fission plants before fusion plants can be potentially commercially viable.

womanofthehills

(8,712 posts)

10. We don't need any more nuclear reactors

Reply to Happy Hoosier (Reply #6)

Thu Mar 28, 2024, 08:22 PM

Mar 28

When wind farms & solar technology is growing at fast speeds & is so much cheaper & safer than nuclear. Nuclear will soon be obsolete.

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