Mammoet’s Post

Great news out of DOE Loan Programs Office this week, where we announced a conditional commitment for a $1.52 billion loan guarantee to bring the Palisades Nuclear Plant back on line in Covert Township, Michigan. If finalized, it will raise LPO's total funding committed to nuclear projects to more than $13 billion. Nuclear projects are incredibly difficult to finance and time consuming to bring across the line. They face the same licensing and capital cost challenges as any other mega infrastructure project, but also demand a specialized and highly trained workforce, a close relationship and buy-in with the local community, public-private partnerships, and often times, close coordination with international trading partners and allies. But it's well worth the hard work, because the payoff is massive. The Palisades plant will: ⚛ Provide 800MW of carbon free, 24/7 electricity. This kind of firm, low-carbon power is critical to grid stability and decarbonization. ⚛ Support or retain up to 600 high-quality jobs in Michigan– many of them union jobs. ⚛ Avoid 4.47 million tonnes of CO2 emissions per year for a total of 111 million tonnes of CO2 emissions during the projected 25 years of operations—an amount roughly equivalent to the annual emissions of removing more than 970,000 gasoline-powered cars from the road. Let's put that last statistic into perspective: That's close to the total of every single EV sold in the United States in 2023 alone! Nuclear is critical for our climate goals, our clean energy transition, our economic and energy security, and for our national security. I'm feeling very fortunate to be a part of an organization that takes on big, important, and difficult projects like this one.

It's been a busy day of milestone announcements for nuclear energy in the United States and LPO, as the Holtec Palisades project represents both the first-ever recommissioning of a shut-down nuclear power plant in the U.S. and the first conditional commitment for financing under the landmark, Inflation Reduction Act (IRA)-created Energy Infrastructure Reinvestment (EIR) program! Catch up on all the key takeaways here and for more information, check out the links below. LEARN MORE: • See the U.S. Department of Energy (DOE) press release about the Holtec Palisades conditional commitment: https://lnkd.in/gpfWjQxc and read LPO's full project announcement: https://lnkd.in/g-VNASzC • How the Energy Infrastructure Reinvestment (EIR) program can support projects that reinvest in energy infrastructure throughout the United States: Energy.gov/LPO/EIR • How LPO financing programs can support advanced nuclear energy in the U.S.: https://lnkd.in/g5GShhvJ • What is a Conditional Commitment and How is it Different from a Loan or Loan Guarantee? https://lnkd.in/gkhfhYHZ • Read about other project announcements on LPO's Blog: https://lnkd.in/g23s_Uk4 • President Biden's "Investing in America" Agenda: WhiteHouse.gov/Invest #DOELPO #FinancingAmericanEnergy #BridgeToBankability #DeployDeployDeploy #Liftoff #OpenForBusiness #BuiltInAmerica #FinancingInnovation #FinancingImpact #FinancingClimateSolutions #FinancingAdvancedNuclear #FinancingNuclearEnergy #FinancingEnergyInfrastructureReinvestment #EIR #InvestingInAmerica #LPONews #ConditionalCommitment

" Nuclear power plant outage management is a key factor for good, safe and economic nuclear power plant performance"  has constantly repeated the #IAEA in its  Nuclear Power Plant Outage Optimization Strategy surveys. Preventing risk of technical issues causing delays and drift of outage costs by relying on experienced teams with a wealth of expertise is essential. Framatome’s highly-skilled teams deploy proven, innovative technologies and solutions backed by a deep knowledge of utilities and safety authorities' expectations for reactor maintenance, inspections, fuel reloading operations, and outage management optimization. Our solutions and projects leverage unique experience on 380 reactors worldwide from 5,500 nuclear service-dedicated people. Learn more: https://lnkd.in/d4xXWaWD #NuclearEnergy #Framatome  #Outage #Maintenance  #Optimization #CountOnIt

" Nuclear power plant outage management is a key factor for good, safe and economic nuclear power plant performance"  has constantly repeated the #IAEA in its  Nuclear Power Plant Outage Optimization Strategy surveys. Preventing risk of technical issues causing delays and drift of outage costs by relying on experienced teams with a wealth of expertise is essential. Framatome’s highly-skilled teams deploy proven, innovative technologies and solutions backed by a deep knowledge of utilities and safety authorities' expectations for reactor maintenance, inspections, fuel reloading operations, and outage management optimization. Our solutions and projects leverage unique experience on 380 reactors worldwide from 5,500 nuclear service-dedicated people. Learn more: https://lnkd.in/dKSEGFaZ #NuclearEnergy #Framatome  #Outage #Maintenance  #Optimization #CountOnIt

Construction of Sizewell C nuclear facility continues: Construction on the Suffolk-based nuclear power project is scheduled to commence following the issuance of the Development Consent Order. Building approval for the £20 billion EDF-financed project was granted in July 2022, and it appears that all regulatory requirements have been satisfied. 7% of the UK's energy demands will be met by the 3. #developmentconsentorder #EDF #electricity #electricitygeneration #energybills #energycosts #energycustomers #Energysecurity #energysupplier #energysupply #energytransition #Finance&Markets #Infrastructure #NIA #NuclearIndustryAssociation #NuclearPower #powergeneration #SizewellC #Suffolk #TopStories #UKenergy #UKGovernment

ENEC, UK Department for Energy Security and Net Zero sign MoU at COP28  #COP28UAE #ClimateAction #UniteActDeliver #TodayForTomorrow #YearOfSustainability #ClimateChange #ENEC #UK #NetZero #Energy  COP28 UAE Emirates Nuclear Energy Corporation Department for Energy Security and Net Zero

" Nuclear power plant outage management is a key factor for good, safe and economic nuclear power plant performance"  has constantly repeated the #IAEA in its  Nuclear Power Plant Outage Optimization Strategy surveys. Preventing risk of technical issues causing delays and drift of outage costs by relying on experienced teams with a wealth of expertise is essential. Framatome’s highly-skilled teams deploy proven, innovative technologies and solutions backed by a deep knowledge of utilities and safety authorities' expectations for reactor maintenance, inspections, fuel reloading operations, and outage management optimization. Our solutions and projects leverage unique experience on 380 reactors worldwide from 5,500 nuclear service-dedicated people. Learn more: https://lnkd.in/guFfPHTn #NuclearEnergy #Framatome  #Outage #Maintenance  #Optimization #CountOnIt

" Nuclear power plant outage management is a key factor for good, safe and economic nuclear power plant performance"  has constantly repeated the #IAEA in its  Nuclear Power Plant Outage Optimization Strategy surveys. Preventing risk of technical issues causing delays and drift of outage costs by relying on experienced teams with a wealth of expertise is essential. Framatome’s highly-skilled teams deploy proven, innovative technologies and solutions backed by a deep knowledge of utilities and safety authorities' expectations for reactor maintenance, inspections, fuel reloading operations, and outage management optimization. Our solutions and projects leverage unique experience on 380 reactors worldwide from 5,500 nuclear service-dedicated people. Learn more: https://lnkd.in/dEntKApt #NuclearEnergy #Framatome  #Outage #Maintenance  #Optimization #CountOnIt

Today's announcement of a conditional commitment for the Holtec Palisades nuclear power project (https://lnkd.in/g-VNASzC) is the first announced potential financing via LPO's Energy Infrastructure Reinvestment (EIR/1706) program, but what is EIR financing and how does it help to support America's energy communities? Watch this overview to find out and read more details at: Energy.gov/LPO/EIR #DOELPO #FinancingAmericanEnergy #BridgeToBankability #DeployDeployDeploy #Liftoff #OpenForBusiness #BuiltInAmerica #FinancingInnovation #FinancingImpact #FinancingClimateSolutions #FinancingEnergyInfrastructureReinvestment #EIR #InvestingInAmerica #LPOPrograms