In the coming years, a nuclear power plant on the shores of Lake Michigan could become the first in the country to restart operations after shutting down. The Palisades plant in southwest Michigan could be revived by a $1.5 billion loan from the U.S. Department of Energy, according to Bloomberg. Federal officials have not yet confirmed the funding, but Dr. Kathryn Huff, Assistant Secretary in the agency’s Office of Nuclear Energy, has said it would be “exciting” and “historic” to see the plant return to life.

The potential federal investment comes as state leaders in Michigan and elsewhere have worked to preserve their nuclear power capacity. Democratic Michigan Governor Gretchen Whitmer successfully pushed for $150 million in state funding last year to support the Palisades restart. The plant is owned by Florida-based Holtec International, which bought it in 2022 to decommission it.

Reviving the plant “is really significant to make sure we can meet our clean-energy goals,” according to Kara Cook, Chief of Staff with the Michigan Department of Environment, Great Lakes, and Energy. “This is really important to us not only from a climate perspective, but also the economic impact on the region.”