In a sign the new Trump administration is committed to the project, U.S. Department of Energy Secretary Chris Wright on Monday announced the release of the second loan disbursement to Holtec International for the restart of the Palisades Nuclear Plant.

During the Biden administration, the Department of Energy made a loan guarantee of $1.5 billion to Holtec to get Palisades back online. The disbursement announced Monday is for $56.7 million. Holtec’s Nick Culp tells us the company welcomes the announcement.

“Everything we’ve been seeing from the administration has been very bullish on nuclear energy and the important role that it will play in American energy strategy, but the news is obviously very welcome,” Culp said. “Our project is well underway for a restart later this year. We remain on schedule and on budget.”

Culp says the $1.5 billion loan is being drawn drown gradually in increments, and more will follow.

Secretary Wright said Monday, “Unleashing American energy dominance will require leveraging all energy sources that are affordable, reliable and secure – including nuclear energy,” adding the loan disbursement helps advance President Trump’s “commitment to increase domestic energy production.”

State Representative Pauline Wendzel welcomed the news, saying as America enters a golden age of energy dominance, Michigan is going to lead the way.

Congressman Bill Huizenga thanked President Trump and Secretary Wright “for advancing Southwest Michigan’s role in our mission to unleash American energy production and strengthen our national energy security.”

Culp says Palisades now has nearly 600 employees on site preparing to get the plant restarted this year.