Latest news with #Holtec
Time of India
6 days ago
- Business
- Time of India
NRC approves Holtec's request to restart Michigan nuclear plant
The US Nuclear Regulatory Commission (NRC) has approved a series of requests from Holtec International that lay the groundwork to restart the Palisades nuclear power plant in Michigan, the agency and company said on Thursday. The approvals will allow Holtec to load fuel, but the company will need further approvals before the plant, which ceased operations under a different proprietor in May 2022, can start back up, they said in separate statements. Holtec is restarting the decommissioned 800-megawatt Palisades plant and plans to install two small modular reactors (SMRs), based on existing light water reactor (LWR) technology, at the same facility. In a partnership with Hyundai Engineering & Construction , Holtec plans to build 10 gigawatts of SMRs in North America through the 2030s, starting at Palisades. Holtec bought the plant to decommission it, but now hopes to reopen it - the first US commercial reactor to restart after ceasing operations - amid rising US power demand driven by data centers and artificial intelligence growth. "Once returned to service, Palisades will generate more than 800 megawatts of safe, reliable, and carbon-free baseload power - enough to power more than 800,000 households... enhance grid reliability and help meet growing energy demand in Michigan and beyond," Holtec said. It did not give a start-up date. In March, Holtec said it wants to reopen the plant in the fourth quarter of 2025. "While these NRC approvals will allow Holtec to load fuel, there are still several licensing actions under NRC review and additional requirements that need to be met before the plant can start up under the original operating license, which would expire March 24, 2031," the NRC said. The NRC has transferred PNP's operating authority from Holtec Decommissioning International to Palisades Energy LLC and reinstated key documents, including emergency and security plans, maintenance and inspection programs.
Reuters
6 days ago
- Business
- Reuters
NRC approves Holtec's request to restart Michigan nuclear plant
July 25 (Reuters) - The U.S. Nuclear Regulatory Commission (NRC) has approved a series of requests from Holtec International that lay the groundwork to restart the Palisades nuclear power plant, opens new tab in Michigan, the agency and company said on Thursday. The approvals will allow Holtec to load fuel, but the company will need further approvals before the plant, which ceased operations under a different proprietor in May 2022, can start back up, they said in separate statements. Holtec is restarting the decommissioned 800-megawatt Palisades plant and plans to install two small modular reactors (SMRs), based on existing light water reactor (LWR) technology, at the same facility. In a partnership with Hyundai Engineering & Construction ( opens new tab, Holtec plans to build 10 gigawatts of SMRs in North America through the 2030s, starting at Palisades. Holtec bought the plant to decommission it, but now hopes to reopen it - the first U.S. commercial reactor to restart after ceasing operations - amid rising U.S. power demand driven by data centers and artificial intelligence growth. "Once returned to service, Palisades will generate more than 800 megawatts of safe, reliable, and carbon-free baseload power – enough to power more than 800,000 households... enhance grid reliability and help meet growing energy demand in Michigan and beyond," Holtec said. It did not give a start-up date. In March, Holtec said it wants to reopen the plant in the fourth quarter of 2025. "While these NRC approvals will allow Holtec to load fuel, there are still several licensing actions under NRC review and additional requirements that need to be met before the plant can start up under the original operating license, which would expire March 24, 2031," the NRC said. The NRC has transferred PNP's operating authority from Holtec Decommissioning International to Palisades Energy LLC and reinstated key documents, including emergency and security plans, maintenance and inspection programs.
Reuters
03-07-2025
- Business
- Reuters
Trump's licensing goals pile pressure on nuclear regulator
July 3 - On May 23, President Trump signed an executive order requiring the Nuclear Regulatory Commission (NRC) to speed up licence approvals to under 18 months for the construction and operation of new reactors and 12 months for licences to continue operating existing reactors. At the time, Energy Secretary Chris Wright said that red tape and outdated government policies have stymied the nuclear industry for too long. Faster licensing will likely accelerate nuclear deployment because 'the reality is that permitting/licensing can take a lot longer than the actual construction for Small Modular Reactors (SMRs),' said Patrick O'Brien, Holtec Director, Government Affairs and Communications. Alongside partner Hyundai Engineering & Construction, Holtec plans to build 10 GW of SMRs in North America in the 2030s. Trump ordered the NRC to implement standardised applications for 'high-volume licensing' of SMRs and modular reactors to support a four-fold increase in U.S. nuclear capacity to 400 GW by 2050. He signed three other executive orders, directing the Department of Energy (DOE) and Department of Defense (DOD) to develop four pilot advanced nuclear reactors between them with private funding, and to 'reinvigorate' nuclear fuel production and enrichment. He also instructed the NRC to create 'an expedited pathway for approving reactor designs' that have been DOD or DOE-tested. Only two new nuclear units have entered commercial operation in the U.S. since 1978 – Vogtle 3 and 4, both of which feature Westinghouse's AP1000 pressurized water reactors. MAP: US nuclear power plants operational in February 2025 Although tax credits will likely be withdrawn for many new renewable energy projects under the One Big Beautiful Bill Act, which is currently before the Senate, the production and investment tax credits for nuclear projects that begin construction before January 1, 2029, are retained. The NRC is working quickly to review and implement the orders and looks forward 'to continuing to work with the Administration, Department of Energy, and Department of Defense on future nuclear programs,' NRC Spokesperson Scott Burnell told Reuters Events. Progress is already being made on some applications. The NRC approved NuScale Power's 77 MW version of its SMR design on May 29, several months ahead of schedule, and granted environmental approval for Holtec International's 800 MW Palisades nuclear plant restart in Michigan just one day later. Several SMR companies are engaged in the NRC licensing process. TerraPower has submitted a construction permit application to the NRC for the Natrium reactor demonstration project, while Holtec is currently engaged in pre-application activities for the SMR-300 design. Faster licensing Speeding up licensing is possible within the current framework 'provided they [the NRC] have the necessary resources/staff' but staff need direction on which applications need to be prioritized, said O'Brien. The License Termination Plan for the decommissioning of the Oyster Creek nuclear facility in New Jersey, a process that typically requires a 24-month review, is expected to be completed in 12 months and 'similar timelines for new submittals can be met,' O'Brien told Reuters Events. Download exclusive insights from the Reuters Events: SMR & Advanced Reactor 2025 conference in May. The NRC plans to introduce a dedicated team to implement the changes directed by the executive orders. Planned budgets and staffing have not changed significantly for the next fiscal year, but the impact of a staff resignation program by the Department of Government Efficiency (DOGE) has yet to be seen, Edwin Lyman, Director of Nuclear Power Safety at the Union of Concerned Scientists, told Reuters Events. DOGE measures to downsize the federal workforce and cut expenses could also undermine the work of the DOE Loan Program Office (LPO), which has been a strong supporter of both renewables and nuclear, providing $107 billion in financial backing to energy projects during the Biden administration. The LPO provided a $1.52 billion loan guarantee to Holtec to restart the Palisades nuclear power plant and previously backed Vogtle 3 and 4. NRC retirement rates are similar to those of the nuclear industry as a whole, which has an aging workforce, said O'Brien. Approval timelines have been 'trending in a positive direction' because the NRC was already seeking to streamline practices under the Biden administration's ADVANCE Act, noted O'Brien. Safety concerns The DOE, which has criticised the NRC for being 'overly risk-averse,' said the new orders are focused 'on balancing safety concerns with the benefits of nuclear energy,' and described existing radiation models as 'flawed.' There are no safety concerns over accelerating permitting for pressurized water reactors like the AP1000 'but other newer designs might need more time to validate,' said O'Brien. For exclusive nuclear insights, sign up to our newsletter. The licensing process would be 'imperilled by imposing artificial timelines on reviews, especially for novel and complex new reactor designs,' said Lyman. He said he was therefore 'deeply concerned' about efforts by the ADVANCE Act and the executive orders 'to pressure the NRC to take shortcuts to facilitate speedy approvals, which could increase the risk that unsafe designs will be licensed and deployed.' The orders are 'wrong-headed from top to bottom' and call for the entirety of NRC regulations and guidance to be revised on a completely unrealistic timescale, he said. Democratic Senator Edward J. Markey in a statement said that the executive orders make it 'impossible for NRC to maintain a commitment to safety and oversight with staffing levels slashed and expertise gone.' CHART: Small modular reactor projects by country Advanced nuclear projects face even bigger obstacles including insufficient capital cost financing, supply chain shortcomings and a lack of fuel production capacity, such as high-assay low-enriched uranium (HALEU), noted Lyman. The LPO must be ready to provide first-of-a-kind funding for new reactor models, while government authorities should provide 'consistent tax policy to blend the cost curve after the first few deployments,' said O'Brien.
Indian Express
03-07-2025
- Business
- Indian Express
Holtec plans to go public early next year to part-finance proposed SMR-based projects in India: CEO
Holtec International, a key player in the American nuclear industry that was cleared by the US Department of Energy (DoE) earlier this year to invest in India's atomic energy sector, plans to go public between April and June next year to raise around $5 billion, Kris P. Singh, the Indian-American promoter and CEO of the company said. Camden, New Jersey-based Holtec, one of the world's largest exporters of capital nuclear components and a frontrunner in the emerging small modular reactor (SMR) space, proposes to combine an initial public offering with some private placement to raise capital for its upcoming projects, including proposed SMR-based projects in India. 'Foreign companies are now getting ready to come and invest in India… At our end, we understand that a lot of capital is needed to do that. Of course, we will borrow capital, but our own capital has to be increased. So we have launched a programme for early next year, and around April or so, we will do an IPO. In addition to the public offering, we will also do some private placement… So, a portion of the funds (being raised) will be through the IPO, while another portion would be through private placement… We want to raise about $5 billion to begin with, and then, of course, we will raise more. And the one main reason I'm doing it is so that we can go build in India,' Singh told The Indian Express. On the private placement plan, Singh said he proposes to unbundle some parts of the company (Holtec International) and offer some of these segments to investors through the private market, including sovereign wealth funds and other investors. The idea, he said, is to altogether raise about $5 billion by mid-next year, between April and June 2026, so that Holtec International is 'well placed to begin construction of SMRs in India'. 'That is, if India puts in place the legislative provisions needed for enabling these investments. If that does not go through, I will direct that (the funding) to other places. But the idea is to get ready in the hope that the Indian government will clear the way for us to invest,' Singh said. If completed, Holtec's IPO would be the largest nuclear energy listing in years. Holtec's planned entry into the public markets comes at a time of surging interest in nuclear energy from data centers and the clean energy transitions planned by utilities across markets. The company is also learnt to be in talks with Abu Dhabi-based investment fund International Holdings Company for a potential fundraise. For India, Holtec holds special significance. Unlike Westinghouse Electric Co and GE Hitachi Nuclear Energy, the two American nuclear industry flag bearers that were seen as early frontrunners for an entry into India's civil nuclear sector, the smaller, privately-owned Holtec is now suddenly in the lead to invest in the country's nuclear sector. The company was accorded an unprecedented regulatory clearance by the US DoE less than three months ago that potentially sets it on course to leverage the commercial potential of the Indo-US civil nuclear deal. The March 26 approval from DoE effectively cleared Holtec International's application for specific authorisation with respect to the DoE's restrictive regulation that is referred to as '10CFR810'. This specific authorisation (SA IN2023-001) now conditionally permitted Holtec to transfer 'unclassified small modular reactor technology' (SMRs) to its regional subsidiary Holtec Asia, as well as Tata Consulting Engineers Ltd, and Larsen & Toubro Ltd in India. Holtec's pitch is for fostering a public-private initiative centred on the American company's flagship small modular reactor, the SMR-300, to potentially help break this stasis in the nuclear engagement between the two countries, with the possibility of using existing coal plant sites in India to deploy its proposed SMR-based projects and the possibility of joint manufacturing at some point in the future. For that to happen, the Indian government is gearing up to move two crucial amendments in the laws governing the country's atomic energy sector. The first relates to the easing of provisions in the nuclear liability law while the second amendment is aimed at enabling private companies to enter nuclear power plant operations in the country, and could also enable foreign companies to potentially take a minority equity exposure in upcoming nuclear power projects. Hitherto, atomic energy has been one of India's most closed sectors. The twin legal amendments are being seen as a reform push that could help leverage the commercial potential of the Indo-US civil nuclear deal nearly two decades after it was inked. New Delhi is also keen to package this as part of a broader trade and investment outreach with Washington DC, which could eventually culminate with a trade pact that is currently under negotiation. On the US side, the issue of getting a specific '10CFR810' authorisation (Part 810 of Title 10, Code of Federal Regulations of the US Atomic Energy Act of 1954) had been a big regulatory hurdle for New Delhi. This is because the regulation, while giving American companies such as Holtec the ability to export equipment to countries such as India under some strict safeguards, explicitly barred them from manufacturing any nuclear equipment or performing any nuclear design work in India. This provision was a non-starter from New Delhi's perspective, which wanted to participate in manufacturing the SMRs and co-produce the nuclear components for its domestic needs. With Washington DC having eased out the regulatory hurdle in the form of the 810 authorisation, the ball is now in New Delhi's court to push through the two legislations at its end. As of now, two SMR projects have reached the operational stage globally. One is an SMR named Akademik Lomonosov floating power unit in Russia that has two-modules of 35 MWe (megawatt electric) and started commercial operation in May 2020. The other is a demonstration SMR project called HTR-PM in China that was grid-connected in December 2021 and is reported to have started commercial operations in December 2023. Apart from Holtec's SMR-300, other emerging western contenders in the SMR segment include the Rolls-Royce SMR, NuScale's VOYGR SMR, Westinghouse Electric's AP300 SMR and GE-Hitachi's BWRX-300. India is hoping to pitch itself as a credible alternative to the incumbents in this niche field, riding on its strong track record of having operated small-sized reactors over an extended period of time and the ability to manufacture nuclear reactors cost-effectively and at scale. This also comes at a time when Beijing is working on an ambitious plan to seize the opportunity of global leadership in the SMR space, unlike large reactors where China has been a latecomer. Like India, Beijing is seeing SMRs as a tool of its diplomatic outreach in the Global South and that the country could shake up the SMR industry, just as it has done in the electric vehicle sector. Established in 1986, Holtec provides spent fuel storage and logistics support for over 140 nuclear plants worldwide, as well as services such as nuclear decommissioning and increasingly, new reactor development. The company is now attempting what would be a first in American history—reviving a shuttered nuclear plant. The Palisades Nuclear Plant in Michigan, closed in 2022 for economic reasons, is slated to restart by the end of 2025 and this reactivation is being funded in part by a $1.5 billion loan guarantee from the US DoE. Holtec plans to install two of its own SMR-300 small modular reactors at the site, in collaboration with Hyundai Engineering & Construction. Holtec's SMR-300 is a pressurised light-water reactor that will produce at least 300MWe of electric power on a small parcel of land. Unlike most traditional nuclear power plants that require large quantities of water, the SMR-300 can be adjusted to use an air-cooling system and the modular design means it is easy to scale up projects. The criticism is that there is still no commercial SMR project that is up and running and the viability of these units is yet to be proven. Holtec already has a footprint in India, with a Pune-based company operating in the non-nuclear energy business.
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
