Holtec has launched Mission 2030, a program to build Holtec’s small modular reactors (SMR)-300, at the Palisades site in Covert Township, Michigan, for commercial operations by 2030.
Holtec’s SMR-300 is an advanced, passively safe, pressurized light water nuclear power plant, each unit designed to produce 300 MW of clean, reliable energy, enough to power 300,000 homes. As an advanced Generation 3+ reactor, it uses gravity as the motive force to run its safety systems earning the walk-away safe designation.
The new SMR-300s will be co-located with the existing 800 MW Palisades plant, scheduled to restart after an extended outage following shutdown in 2022. The plant restart and addition of two SMR-300s will make Southwest Michigan ground zero for America’s nuclear renaissance.
Holtec also signed an expanded alliance agreement with Hyundai Engineering & Construction to build a 10 GW fleet of SMR-300s in North America through the 2030s, beginning with the Palisades SMR project. The partnership will help rapid scaling of the SMR-300 program based on learnings from the SMR-300 project at Palisades.
Holtec has invested over $50 million to date in the SMR-300 site development and environmental activities and is on schedule to start the formal U.S. Nuclear Regulatory Commission construction permitting process in early 2026. Alongside site preparation work, Holtec is engaged in public and government outreach for the project.
The SMR project will help meet growing demand for reliable, clean energy, while also creating many jobs, bolstering American manufacturing, and growing the regional tax base. The efforts are expected to generate deep economic impacts in the surrounding community, furthering the region’s long-term prosperity and energy security.
