$1.5 billion loan to restart Palisades Nuclear Plant in Michigan

Summary: The Biden administration announced a $1.5 billion loan to restart the Palisades Nuclear Plant in Michigan. The plant, operational from 1977 to 2022, will be recommissioned to produce power until at least 2051. The project aims to support clean energy and create jobs. Michigan allocated $150 million for the facility, targeting a late 2025 restart. The administration aims for a 100% renewable electrical grid by 2035.

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