There has been a wave of lengthy extensions to the lifespans of numerous nuclear power plants in the United States and around the world, as well as prospective conversions of retired coal-fired power plants into advanced reactor facilities. Though more than a dozen U.S. reactors have shut since 2013, U.S. energy companies may be on the verge of reviving several of the plants that were idled.

Earlier this year, the Department of Energy provided Holtec International with a $1.5 billion loan to assist with the restart of a 800-megawatt nuclear power plant in Michigan. The Palisades Nuclear Generating Station, which was acquired by Holtec in 2022 after being mothballed in the same year, was originally meant to be decommissioned and deconstructed by the company. Per a report from Reuters, Holtec aims to restart the plant by 2025 and eventually deploy two small modular reactor units at the site and has secured long-term commitments from two electric cooperatives to buy power