Holtec to get $1.5 bln to restart shuttered nuclear power plant - Bloomberg News
Jan 30 (Reuters) -The Biden administration could loan $1.5 billion to Holtec International as soon as next month to restart the closed Palisades nuclear power plant in Michigan, Bloomberg reported on Tuesday, citing people familiar with the matter.
In October, Holtec filed with the U.S. Nuclear Regulatory Commission to reopen the 800-megawatt Palisades plant, saying it had also applied for a loan to help restart the plant.
Originally, Florida-based Holtec bought Palisades in 2022 from Entergy ETR.N to decommission it.
Yet renewed interest in carbon-free power generation has given a new lease of life to nuclear power, as governments seek sources of lower-emissions electricity in the fight against climate change.
Bloomberg cited Nick Culp, a Holtec spokesman, who said that the company was "very optimistic" about the Energy Department loan process, which was a "historic opportunity for the country and Michigan".
Reporting by Seher Dareen in Bengaluru; Editing by Arun Koyyur
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
