Holtec enters power purchase agreement to reopen Michigan nuclear power plant

Wolverine Power Cooperative signed an agreement with Holtec's Palisades Energy LLC on Tuesday to purchase power to re-open the 800-megawatt (MW) Palisades nuclear power plant in Michigan. Holtec International, a diversified energy technology company headquartered in Florida, bought the Palisades plant in 2022 to decommission the facility, which had struggled to compete with natural gas-fired plants and renewable energy. According to the long-term power purchase agreement, Wolverine Power Cooperative, a not-for-profit energy provider to the rural communities across Michigan, is committing to purchase up to two-thirds of the carbon-free power generated by the Palisades plant for its Michigan-based member rural electric cooperatives.