The Biden administration said on Thursday it is offering $1.2 billion in aid to extend the life of distressed nuclear power plants which, for the first time, could offer funding to a plant that has recently closed.
The funding comes from the $6 billion Civil Nuclear Credit program, created by the 2021 infrastructure law, and will be distributed by the Department of Energy .
"Expanding the scope of this... funding will allow even more nuclear facilities the opportunity to continue operating as economic drivers in local communities that benefit from cheap, clean, and reliable power," Energy Secretary Jennifer Granholm said. Holtec International, the current owner, had applied for the first round of funding, but the DOE rejected it. Holtec's application had surprised some officials because reviving plants after closure would be a costly processs and because reopening a decomissioned nuclear plant is associated with potential risks involving radioactive materials.
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