Holtec has been awarded the prestigious Tier 1 “First Mover Team Support” award from the U.S. Department of Energy for their nuclear technology.
The $400 million award will accelerate the deployment of Holtec’s dual-unit SMR-300 plant at the former Palisades Energy site. The project is the world’s first ever restart of a retired nuclear plant, with plans to come online in the early 2030s. The site was previously home to a 805-MWe PWR.
This project will be financed by the DOE’s Loan Programs Office, which will provide milestone-based cost-share support for licensing, pre-construction, and supply-chain mobilization.
The Tier 1 program requirements include manufacturing standardization and efficiency, which Holtec plans to accomplish through their repeatable, scalable technology.
While gas is often the choice source for reliable baseload power today, nuclear is likely to take that role in tomorrow’s energy mix. Creating affordable and scalable technology like Holtec’s will enable that future.
