Holtec and Hyundai Engineering & Construction Tuesday announced another step in their plans to develop new small modular reactors at the currently-closed Palisade nuclear plant site in Covert, Mich.
Holtec and the South Korea-based construction company said in a Tuesday press release they are making headway in their effort to develop small modular reactors (SMRs) in the United States by 2030.
The two companies said they held a formal “launch ceremony” for their efforts at the Palisades plant, which shut down in May 2022.
In addition to seeking Nuclear Regulatory Commission (NRC) approval to restart the shuttered 800-megawatt Palisades nuclear plant, Holtec and Hyundai E&C continue to pursue deployment of Holtec SMR-300 units at the Palisades complex. Holtec is seeking approval this summer of restarting the legacy Palisades nuclear plant.
Holtec and Hyundai E&C have an “expanded alliance agreement” with a goal of building a 10-gigawatt fleet of SMR-300s in North America through the 2030s, beginning with the landmark Palisades SMR project.
The Holtec-Hyundai team is one of many industry players hoping to restart idle nuclear reactors or build new SMRs, NBC News reported.
The SMR-300 units employ a design where the reactor core is underground and encased in a steel and concrete structure, according to a Holtec website. Unlike current larger, operating reactors, the SMR-300 would make use of “passive” safety systems that would not require actions by a plant operator during a natural disaster or other type of accident.
“Since announcing the Palisades SMR-300 project in 2023, Holtec has made substantial progress, including detailed site and environmental studies to choose a location for the plant within the Palisades property, establishment of a groundwater monitoring program, and completion of soil boring,” Holtec said in Tuesday’s release.
Thus far, Holtec has spent more than $50 million SMR-300 site development and environmental activities it is targeting, starting the NRC construction permit process for the SMR early next year.
