COVERT TOWNSHIP, Mich. (WOOD) — Holtec has announced that it is reapplying for the next round of funding through the U.S. Department of Energy’s Civil Nuclear Credit program to repower the Palisades Power Plant.

This announcement comes weeks after the DOE rejected the plant’s application for funding to restart.

In a post on Facebook, Holtec said “this decision to reapply is one that we did not take lightly, but the support of the State of Michigan, local officials, and key stakeholders – who recognize the significant benefit in providing a safe, reliable, carbon-free power source, as well as providing a significant economic impact through good paying jobs and the use of many local goods and services – leads us to believe this is the best path forward for the facility and our state.”

In the meantime, Holtec said it will continue to be focused on decommissioning and managing the spent fuel removal from the spent fuel pool to dry cask storage.

The plant’s former owner, Entergy, closed the plant on May 20, 11 days before the planned May 31 shutdown, out of an abundance of caution for the control rod drive seal. The plan to shut down the power plant was first announced in 2017 after the station’s contract with Consumers Energy expired.

The plant was sold to Holtec Decommissioning International in June 2022.

Holtec previously submitted a report that details its decommissioning plan through 2041, which is expected to cost more than $600 million. There will be a pause from December 2025 through November 2035. Demolition will begin sometime after that and site restoration is scheduled to begin in 2040.