As part of the Investing in America Agenda, the Department of Energy and USDA announced more than $2.8 billion to support reliable, affordable, and clean power in the Midwest.
DOE, through its Loan Programs Office, announced the closing of a loan guarantee of up to 1.52 billion dollars under the Inflation Reduction Act’s Energy Infrastructure Reinvestment Program for Holtec Palisades to help finance the restoration and resumption of service of an 800-megawatt nuclear-generating station in Covert Township, Michigan. This represents a first-of-its-kind effort by DOE to restart an American nuclear power plant.
It will generate carbon pollution-free energy and save and expand a union workforce in Michigan while helping strengthen America’s nuclear energy sector and advance core climate and domestic energy goals. USDA also announced more than $1 billion in Empowering Rural America program awards for two rural electric cooperatives, including Wolverine Power Cooperative and Hoosier Energy.
