US firm plans 10 GW power from small reactors at retired nuclear site

Florida-based Holtec International, in partnership with Hyundai Engineering & Construction, plans to deploy advanced small modular reactors (SMRs) at the retired Palisades nuclear plant site in Michigan by 2030. The project, part of Holtec’s “Mission 2030” program, aims to build America’s first SMR-300 units—each a 300 MW advanced, passively safe, pressurized light water reactor—co-located with the existing 800 MW Palisades plant, which is currently being restarted after its 2022 shutdown. Holtec intends to build a 10-gigawatt fleet of SMR-300s across North America during the 2030s, leveraging the cost advantages of deploying SMRs at existing nuclear sites. Holtec is also exploring additional SMR deployments, including up to four units at the Oyster Creek site in New Jersey, where a 625 MW boiling water reactor is slated for decommissioning by 2029. The company sees significant growth potential for SMRs in the Mountain West region, particularly in Utah and Wyoming, supported by ongoing testing at Idaho National Laboratory and recent pro-nuclear legislation in Utah. Holtec’s SMR-300 design emphasizes passive safety features, such as gravity-driven safety systems, earning it a “walk-away safe” designation, and positions the company to compete globally against state-backed reactor vendors by offering comprehensive lifecycle services from construction to decommissioning. The Palisades SMR-300 project is intended to serve as a global benchmark for next-generation nuclear technology deployment, advancing U.S. leadership in clean energy innovation and unlocking worldwide opportunities for SMR adoption. Holtec highlights the project’s role in providing clean, reliable energy capable of powering hundreds of thousands of homes while maintaining high safety and operational standards.