The planned restart of the Palisades Nuclear Plant in Michigan took a major step forward Monday when the Department of Energy (DOE) announced that it had closed on a $1.52 billion loan guarantee to help Holtec International finance the restoration and resumption of service at the 800-MW reactor.

The DOE also announced more than $1.3 billion in Empowering Rural America program awards for two rural electric cooperatives — Wolverine Power Cooperative and Hoosier Energy — that plan to buy power from the restarted reactor.

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