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The Palisades nuclear plant in Michigan, decommissioned in 2022, will be revived by Holtec, marking the first restart of a closed U.S. nuclear facility. The project aims to introduce small modular reactors (SMRs), which are smaller, potentially cheaper and safer nuclear power systems.

Holtec plans to install two 300-megawatt SMRs alongside the existing 800-megawatt reactor, with a licensing process initiated in 2025 and a target for SMR operations by 2031. Competition is emerging from other companies like Kairos Power, which is constructing a demonstration reactor in Tennessee, aiming for operations by 2028.

Both companies are receiving substantial investments from tech firms and government funding. Experts express concerns about the high costs of SMRs and the challenges of competing with renewable energy sources. The timeline and feasibility of SMR deployment remain uncertain, with calls for careful evaluation of safety and regulatory standards.