COVERT TOWNSHIP, Mich. — A project to build new, small-scale nuclear reactors on the shores of Lake Michigan is getting a nine-figure investment from the federal government.
On Tuesday the U.S. Department of Energy announced Holtec Government Services will received $400,000,000 to complete a pair of small modular reactors at the Palisades Nuclear Generating Station in Covert Township.
The funding is part of a $900 million push by the Trump Administration to jump-start a new nuclear generation. The Tennesee Valley Authority also received $400 million for its planned deployment of a small-scale nuclear generator. The remaining $100 million will be awarded later this December.
Once completed, the modular reactors at Palisades would each generate 300 megawatts, enough to power thousands of homes. The operation of the SMR-300 reactors would support 300 full-time jobs, with nearly 2,000 jobs estimated to take part in their construction.
Holtec partnered with Hyundai Engineering & Construction on the modular reactors, which has built plants of the same size in other countries, including Saudi Arabia.
When the company announced the plans for the small-scale reactors, Holtec said the design would allow power generating stations to be deployed nearly anywhere in the world.
Holtec announced its modular reactor program shortly after it revealed it was pursuing a restart of the Palisades reactor. That restart would be a first-ever for a nuclear plant in the U.S.
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Tuesday's funding from the federal government isn't the first for the Palisades site. In March 2024, the Department of Energy approved a $1.52 billion loan for the main reactor restart effort.
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The funding news ellicited celebration from Governor Whitmer, who championed the restart of Palisades for years.
“Today’s announcement will lower energy costs, reaffirm Michigan’s clean energy leadership, and show the world that we are the best place to do business,” said Whitmer.
The big reactor was expected to be restarted by the end of 2025, but Holtec has not confirmed if the effort remains on schedule. The modular reactors are not expected to go online until the 2030's.
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