Unexpected.

https://www.newsmax.com/us/michigan-nuclear-plant/2024/03/28/id/1158935/



The federal government will provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan, officials announced Wednesday.

Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it. But now the emphasis is on restarting it by late 2025, following support from the state of Michigan and the Biden administration.

Gov. Gretchen Whitmer said it would be the first nuclear power plant to be reopened in the U.S. It still faces hurdles, including inspections, testing, and the blessing of the U.S. Nuclear Regulatory Commission, known as the NRC.

"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," said Energy Secretary Jennifer Granholm, a former Michigan governor.

The Palisades plant is along Lake Michigan, a two-hour drive from Chicago. A Michigan utility, CMS Energy, owned it from 1971 until the plant was sold to Louisiana-based utility Entergy in 2007. It was shut down in 2022.

Holtec said it has long-term commitments so far from two electric cooperatives to buy power from the plant.

"The repowering of Palisades will restore safe, around-the-clock generation to hundreds of thousands of households, businesses and manufacturers," said Kris Singh, Holtec president and chief executive.

Critics, however, have emerged. A coalition opposed to restarting what it derisively calls a "zombie reactor" has requested a hearing at the NRC.

Holtec spokesman Patrick O'Brien said it will take four to five months to finalize the financial deal with the government.

"It is a loan we have to pay back," he said.

Nuclear energy is in the spotlight. Thirty-four countries, including the U.S., last week pledged to use it to reduce reliance on fossil fuels. In California, regulators in December said the Diablo Canyon plant could operate through 2030 instead of 2025 to guard against blackouts as the state shifts toward renewable power sources. Owner Pacific Gas & Electric said federal aid helped it repay a state loan.

"There is more enthusiasm toward nuclear power — in Congress, in the industry and also internationally," said Najmedin Meshkati, an engineering professor at the University of Southern California who has inspected nuclear plants around the world.

But restarting a plant, he said, is not easy.

"It puts the onus and burden on the Nuclear Regulatory Commission and Holtec to double down on efforts to make sure this plant is safe enough and all the safety measures are intact," Meshkati said of Palisades.

Well there's a shock.  How much is stretchin' getting on the back end?

But muh windmills

“Loan”

No solar farms or windmills?  Wow, I wonder why nuclear?  Can't possibly be because it actually fucking works.

https://www.ar15.com/forums/general/Mi-Nuke-Plant-to-Restart-/5-2715867/&page=1&anc=108509663#i108509663

This is one thing I'm in with the govt spending money on. We should be going balls deep on nuclear power

Michigan - a swing state in the presidential election.  

In before the audit and family relation tree

So, based on NRC red tape and BS this should be ready to go by 2055 and actually cost $200 BILLION.  Greens in government will not let this happen. This is a pre election stunt obviously.

IBTL...

True, but does it matter?

MI is blue and they’ll make up the difference with fraud. Just like last time.

"loan"  


yeah right.

It wouldn’t be much of a stretch to expect more than 10%

lol holy shit...Liberals are pro nuke now?

They must have figured out how to profit massively off this deal

No idea if this particular situation is worth the money or not (probably), but nuclear power is the only choice to reliability generate the power needed to run this country.

This is a 50+ year old worn-out nuke plant that will never produce any more electricity.  Ancient technology.

Holtec International purchased the plant in 2022 to scrap it, and sell off the parts.
Now Holtec has figured out how to get $1.5B from Biden administration for the junk.
Holtec is owned by Kris Singh, an Indian guy that has a history of bribing US federal officials to get contracts.
https://www.inquirer.com/business/holtec-tennessee-valley-authority-nj-tax-credit-investigation-20190709.html

I will file this under "Likely Money Laurdering and/or Bribery".  The big guy hasn't gotten his 10% since Russia attacked his other money laundering partner.

Planned failure.

Green doesn't work, nuclear is viable.
Plant fails, nuclear no longer an option.
Green push renewed.

Was going to post this.

This is actually appropriate use of Gov money - as long as they don't fuck it up by attaching all kinds of DEI requirements around operating the plant.

They are going to kill everyone in that state.

They need solar and windmills not killing machines

FIFY

Coal is good as is natural gas although natural gas may be best used for space heating, water heaters, etc.

I think the standard is 10%.

I'm for nuclear power, and for fossil fuels.  But it's not a good idea to spend billions on 50+ year old equipment for either.  Especially when the cash is going to crooked companies like Holtec.  

Holtec International gave a false answer in a 2014 New Jersey tax break application ($260M) connected to political boss George E. Norcross III, a Holtec board member.
Five days after WNYC and ProPublica asked about it, lawyers called it "inadvertent" and asked the state to correct it.  
https://www.propublica.org/article/holtec-international-george-norcross-tax-breaks

It's one of those things where ignoring the corruption:

how long would it take and how much would it cost to build a new plant vs. how long and what would it cost to get an existing one up and running with some level of improvements?

risk / reward / time.

About 8 inches.

1.5 Billion they should be building a new AP1000 or something similar.

Biden the fucking retard.

Build NEWER, SAFER nuclear power plants.

Don't keep fixing old pieces crap.

Waste of money.


This administration is a CANCER ON AMERICA.

"Lend"...

Michigan has a ton of natural gas, they built a state of the art natural gas power station 20 minutes from me near Gaylord.  can power most of Northern mi.  build a few more of these. Iam all for nuclear power, second one in US was in bayshore MI. shut it down in late 90s.  This state is always windy but soon as they talk about wind mills near lake Michigan the libs go nuts, blocks my view etc, cant win with this whack jobs.  Whitmers supporters aren't going to like this.

Big Rock

my Dad worked there up until the end

Whiners gonna keep whining. But muh fraud!

100% this

Nuclear power isn’t all bad.  Ancient plant though has me skeptical.

Yes, got a tour in early 90s.  A friend got a job dismantling the place and it turned into a full time job, travels the world doing it. small world here on ar15

You spelled fusion wrong

I think I will see it in my lifetime

$500 M into the Michigan DNC.

$500 M into national DNC.

$500 M to the owners of the plant who will miss deadlines repeatedly until the project is scrapped in three years.

Money laundering

Hunter must be on the board.