Latest news with #Holtec
Yahoo
16-06-2025
- Business
- Yahoo
Allegan County reaffirms support for Palisades restart. Where do efforts stand?
Holtec International still awaits official approval from the United States Nuclear Regulatory Commission to re-open Palisades Nuclear Power Plant. In the meantime, local elected officials have reiterated their support for the project. Holtec is seeking regulatory approval to restart power operations at Palisades after the plant closed for decommissioning in May 2022. A federal loan of $1.52 billion was approved for the project in 2024, but the NRC has yet to officially approve the restart. During a meeting June 12, the Allegan County Board of Commissioners unanimously approved a resolution to 'reaffirm support' for the re-opening of Palisades. The board passed a similar resolution in January 2023. The resolution includes several points Holtec has made regarding the restart, including the benefits of job creation, grid stability and reliability, and clean energy. According to the NRC, approval is necessary to restore the plant's license for operational status, but is also needed before Holtec can ready plant components or make any needed upgrades or repairs. Holtec has previously requested the NRC make a determination this summer, in hopes of resuming power operations in the fourth quarter of 2025. Most recently, Holtec announced the NRC issued a Final Environmental Assessment and Finding of No Significant Impact for Palisades. The ruling found 'the project poses no significant environmental risk,' Holtec wrote in an update. Holtec also said an Initial Licensed Operator Class is on-track for NRC examination in June, which will add 26 federally licensed operators to the site. A separate class is underway and scheduled for testing in early 2026. In late May, Palisades received full accreditation for its maintenance and technical training program, completing the "complement of accreditations' required for operation. Two emergency preparedness exercises have been completed at Palisades, with more scheduled for this summer. The drills will culminate in a graded exercise evaluated by the NRC and FEMA. Earlier this year, a coalition of environmental groups and a group of residents living near Palisades filed petitions with the NRC's Atomic Safety and Licensing Board in an effort to stop or delay the restart. In March, the board denied requests for full hearings on the petitions. More: 'Not admissible': Request for formal hearing challenging Palisades re-opening denied Palisades ceased power operations in May 2022, and was sold to Holtec for decommissioning shortly after. Just a few months later, a plan to restart the plant was announced. An initial funding request was denied, but a second effort was launched early in 2023. Holtec is also seeking to build two small modular reactors, SMR-300s, at Palisades, which would add at least 600 megawatts to the plant's 800-megawatt generating capacity. Preliminary activities are underway and Holtec plans to file a construction permit application for the SMRs in 2026. There are currently no upcoming meetings scheduled for the Palisades restart, per the NRC website. Learn more about regulatory actions and upcoming meetings at — Contact reporter Mitchell Boatman at mboatman@ This article originally appeared on The Holland Sentinel: Allegan County reaffirms support for restart at Palisades Plant
Yahoo
10-06-2025
- Business
- Yahoo
America's $75 Billion Nuclear Bet: Westinghouse vs. the Future of Energy
Westinghouse is going all-in on America's nuclear revival. Backed by Brookfield and Cameco, the Pennsylvania-based firm is in active talks with US officials, tech firms, and utilities to build 10 large nuclear reactors under President Trump's new energy directive. The order sets a 2030 deadline to begin construction and aims to quadruple US nuclear output by 2050. That kind of ambition could translate into a $75 billion opportunity, based on Department of Energy cost estimates. Interim CEO Dan Sumner says Westinghouse has the edgeits AP1000 design is approved, the supply chain is intact, and it's already delivered units in the US and China. We believe we can do them all, Sumner told the FT, pointing to hyperscaler interest and government loan programs as signs of momentum. Warning! GuruFocus has detected 2 Warning Sign with AMZN. But it's not a done deal yet. Nuclear still faces stiff economic headwinds in the US. While Washington may be on board, local utilities and regulators still have the final sayand memories of the Vogtle project's ballooning costs still linger. Analysts warn that the current US power market structure doesn't guarantee cost recovery for mega-projects, making investor appetite uncertain. Even so, Sumner argues that lessons from past delays have been baked into the new build model: We're the only ones who've done modular nuclear at scale. And now, the learning's embedded. Meanwhile, SMR developers aren't staying quiet. NuScale is pitching a 12-pack of its 77MW modules to rival traditional plants in capacity, while Holtec's 320MW units could be grouped to matchand beatWestinghouse on cost and complexity. We fully intend to compete with the big plants, Holtec's president said. The big question now: Will deep-pocketed buyersthink Amazon (NASDAQ:AMZN), Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT)step up to fund these nuclear ambitions, or wait for the small guys to scale first? Either way, the race is on. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
05-06-2025
- Business
- Reuters
Holtec targets US-wide nuclear reactor fleet using learnings at Palisades
June 5 - Holtec International's plan to deploy two small modular reactors (SMRs) at the Palisades nuclear plant site in Michigan by 2030 shows how developers are looking to capitalize on soaring U.S. power demand and build on existing nuclear expertise to deploy the first wave of next-generation reactors. In a partnership with Hyundai Engineering & Construction, Holtec plans to build 10 GW of SMRs in North America through the 2030s, starting at Palisades. Holtec is restarting the decommissioned 800 MW Palisades nuclear power plant and plans to install two of its SMR-300 reactor units, based on existing light water reactor (LWR) technology, at the same facility. The cost of deploying SMRs at Palisades will be lower than on sites with no atomic presence, Patrick O'Brien, Holtec International's director of Government Affairs and Communications, told Reuters Events. Existing nuclear sites offer developers a range of power and logistics infrastructure and a skilled local workforce. A proven history of safe operations can help minimise local opposition. "In having environmental data, a trained and talented workforce, and the ability to interconnect to an established switchyard, the costs will be lowered," O'Brien said. Holtec could also site up to four SMR units at the Oyster Creek nuclear power site in New Jersey, where the company plans to decommission a shuttered 625 MW boiling water reactor by 2029, he added. MAP: US operational nuclear power plant sites Holtec sees major growth potential for SMRs in the Mountain West region. A 4 GW fleet of SMR-300s could be deployed, mainly in Utah and Wyoming in the 2030s, supported by ongoing testing at the Idaho National Laboratory (INL) and recently passed legislation supporting nuclear power development in Utah, the company said on May 1. 'The new legislation supports our vision to start the incubation of our SMR-300 program in Utah and expand it into the Mountain West,' Holtec Chief Strategy Officer Admiral Roegge said in a statement. Nuclear pioneers The U.S. Department of Energy (DOE) estimates 60 to 95 GW of new nuclear capacity could be built at operating or recently retired nuclear power plant sites across the country, according to a study published by the DOE in September 2024. Malwina Qvist, director of the Nuclear Energy Program at the Clean Air Task Force (CATF), sees the potential for at least 80 to 100 GW at these sites. A project led by Canadian utility Ontario Power Generation (OPG) to deploy four GE Vernova Hitachi BWRX-300 SMRs at Ontario's Darlington nuclear power plant will also benefit from existing nuclear infrastructure and workforce. The first SMR at Darlington will be the "first of its kind" in the G7 group of wealthy nations, OPG said. CHART: Small modular reactor projects by country U.S. utility Tennessee Valley Authority (TVA) recently submitted a construction permit application to the Nuclear Regulation Commission (NRC) for the BWRX-300 SMR model, eyeing deployment of a first unit at its Clinch River site by 2032. TVA could have a "second-mover advantage" following the planned deployment of the technology in Canada, according to Stephen Comello, senior vice president of Strategic Initiatives at the EFI Foundation. TVA has a collaboration agreement with OPG which it said facilitates sharing of experiences that could reduce the financial risks of innovating new technology while taking advantage of both companies' extensive nuclear energy experience. Strategies to overcome cost hurdles for new nuclear - download our webinar. TVA's Clinch River site could host up to four SMRs and the company also plans to evaluate other nuclear locations for locating small reactors, a TVA spokesperson told Reuters Events. DOE funds Holtec is one of a small group of developers seeking to win funds from the DOE in a funding round for LWR SMR technology (Gen III+). Other LWR-based SMR reactors include Westinghouse's AP300 and NuScale's SMR 3. In March, the Trump administration reissued a DOE tender for $900 million in federal funding to help de-risk deployment and removed a previous requirement for community engagement, underlining their support for new nuclear. In Tier 1 funding, the DOE will provide $800 million for up to two consortia towards the deployment of Gen III+ reactors. In Tier 2, $100 million will support additional Gen III+ SMR deployments by addressing design, licensing, supply chain, and site preparation issues. If selected, Holtec would use Tier 1 funding to help complete licensing work and some initial groundwork, O'Brien said. Tier 2 funding would go towards manufacturing upgrades to prepare for SMR construction and environmental analysis for the Oyster Creek facility, where the company could install up to four SMR-300s following the Palisades project. For exclusive nuclear insights, sign up to our newsletter. Uncertainty over the cost of the first SMR reactors is a key challenge for developers looking to deploy commercial-scale units and drive down investment risks. An official cost estimate announced this month for OPG's Darlington SMR project in Canada provides insight into the potential investments required to deploy LWR SMRs in the United States, according to Comello. Construction of the four BWRX-300 SMRs at Darlington is estimated at C$20.9 billion ($15.2 billion), according to a statement released by the Province of Ontario. The cost of the first SMR is estimated at C$6.1 billion and costs for systems and services standard to all four SMRs are estimated at C$1.6 billion. Costs are expected to decline with each subsequent unit as efficiencies are gained. "That is a good estimate for a first-of-a-kind light water reactor GEN-III SMR that has a sufficient design maturity, which I think is what Holtec should be on its way to," Comello said.
Yahoo
02-06-2025
- Business
- Yahoo
NRC environmental assessment: ‘no significant impact' from Palisades reactor restart
This story was originally published on Utility Dive. To receive daily news and insights, subscribe to our free daily Utility Dive newsletter. Holtec International's efforts to restart the 800-MW Palisades nuclear power plant pose 'no significant impact' to the human environment, the Nuclear Regulatory Commission said on Friday. The official notice of NRC's finding removes a potential roadblock to what is expected to be the first recommissioning of a retired nuclear reactor in the United States later this year. NRC issued a draft finding of no significant impact, or FONSI, for the western Michigan plant in January, prompting a challenge from local and national anti-nuclear groups. 'Pending all federal reviews and approvals, our restart project is on track and on budget to bring Palisades back online by the fourth quarter of the year,' Nick Culp, Holtec's senior manager of government affairs and communications, said in an email. The FONSI is a 'major milestone on our regulatory path to reauthorize plant operations,' Culp added. NRC continues to review other aspects of the Palisades restart process, including a request to approve Holtec's method for repairing an onsite steam generator system that NRC said last year showed wear that 'far exceeded estimates based on previous operating history.' The wear may have been caused by shutdown crews not following protocol while laying up the plant in 2022, Holtec spokesperson Pat O'Brien told Reuters in October. NRC's review timeline has slipped since March, when the commission said it would rule on outstanding licensing matters by July 31. Its website now shows an estimated completion date of Sept. 30 for the steam generator review, the last item on its docket. But Holtec's own estimates of when Palisades could power back up have not changed significantly from the October 2025 target O'Brien gave Utility Dive last September. Unlike many clean energy projects that received financial commitments from the Biden administration, the Palisades restart appears to have the full support of the Trump administration. Despite losing up to half its staff since January, the U.S. Department of Energy's Loan Programs Office has thus far made at least three loan disbursements to Holtec out of a $1.5 billion loan guarantee, complementing a roughly $1.3 billion U.S. Department of Agriculture award to two regional electric cooperatives to support power purchases from the plant. Michigan's 2025 state budget includes $300 million in funding for the plant. Holtec could spend as much as $500 million of its own money on the restart, O'Brien told Utility Dive last year. The company plans to apply for a 20-year renewal of the reactor's operating license, potentially extending its operations until 2051, and aims to commission two 300-MW small modular reactors on the site in the early 2030s. Former owner Entergy permanently shut down Palisades in May 2022 and sold it to Holtec the following month. Holtec made the first public moves toward restarting the plant in late 2023, marking the first U.S. effort to restart a retiring commercial power reactor. Since then, the owners of two other recently-shuttered U.S. nuclear power plants have moved to restart them. Backed by a 20-year power purchase agreement with Microsoft, Constellation Energy said in September it will restart the undamaged 835-MW reactor at Three Mile Island — now called the Crane Clean Energy Center — by 2028. And NextEra Energy has taken preliminary steps to restart the 600-MW reactor at its Duane Arnold nuclear plant in Iowa, which shuttered in 2020. Recommended Reading DOE makes $1.5B conditional loan commitment to help Holtec restart Palisades nuclear plant
Reuters
30-05-2025
- Business
- Reuters
US approves environmental review for Michigan nuclear plant restart
WASHINGTON, May 30 (Reuters) - The U.S. on Friday said Holtec's planned restart of the Palisades nuclear power plant in Michigan would not harm the environment, a needed step in its plan to become the first such plant to return from permanent shutdown. The Nuclear Regulatory Commission conducted the environmental review of the Palisades reactor restart with the Department of Energy's Loan Programs Office. Opponents of the restart had expressed concerns that steam generator tubes at Palisades are degraded because standard maintenance procedures were not followed when the plant went into shutdown. Holtec says it is plugging the tubes. The LPO, which supports nuclear projects that are unable to get bank loans, closed a $1.52 billion loan guarantee for the Palisades restart in September 2024. President Donald Trump's administration provided the third disbursement of that financing, nearly $47 million, in April. Power company Entergy (ETR.N), opens new tab shut the 800-megawatt Palisades reactor in 2022, two weeks ahead of schedule over a glitch with a control rod. It had generated electricity for more than 50 years. Holtec bought the plant to decommission it, but now hopes to reopen it. U.S. power demand has been rising for the first time in two decades on the boom in data centers and artificial intelligence. Holtec says Palisades could reopen as soon as October. But it needs additional permits from the NRC. "Pending all federal reviews and approvals, our restart project is on track and on budget to bring Palisades back online by the fourth quarter of the year," said Holtec spokesperson Nick Culp. Alan Blind, engineering director at the plant from 2006 to 2013, said in an editorial this month that if steam generator problems lead to a shutdown, it would "erode public confidence, damage investor trust, and raise serious safety concerns." The NRC is reviewing Holtec's proposed repairs, said Scott Burnell, an agency spokesperson. "Holtec must demonstrate the Palisades steam generators will fulfill their safety functions before the plant restarts," Burnell said.
