US-based Holtec International has launched its Mission 2030 project for the construction of two of its small modular reactors at the Palisades NPP site in Michigan. Holtec’s SMR-300 is a pressurised water reactor (PWR) producing around 300 MWe or 1050 MWt for process applications. The SMR-300 uses technology based on existing standards in the US and UK and PWR fuel. It has undergone several design evolutions, the most recent of which is the incorporation of forced flow capability overlayed on gravity-driven flow in the plant’s primary system.
The 805 MWe Palisades NPP was shut down by Entergy in May 2022 after 50 years in service. It was defuelled and its sale to Holtec was completed in June 2022 with decommissioning envisaged for completion in 2041. However, Holtec then announced plans to apply for federal funding – which it received – to enable it to reopen the plant, which it hopes to restart before the end of 2025. Under the Mission 2030 project, two SMR-300s will be co-located with the Palisades NPP.
As part of the SMR launch ceremony held at the Palisades site, significant milestones in Holtec’s site preparation work for the SMR-300s was noted an expanded alliance agreement was signed with South Korea’s Hyundai Engineering & Construction (Hyundai E&C) to build a 10 GWe fleet of SMR-300s in North America through the 2030s, beginning with the Palisades project. Hyundai E&C said it planned to complete site design in the second quarter of 2025 and begin construction “around the end of this year”.
The Palisades SMR-300 project, announced in 2023, targets 2030 for first commercial operation. Holtec said that $50m has been invested so far in site selection and development activities, such as detailed environmental studies and soil borings.
Holtec has been developing deployment plans for its SMRs in various countries, including for up to 5 GWe of capacity in the UK and for multiple units in Ukraine. It says the Palisades project will become the “global reference point for deploying this next generation nuclear technology”.
Holtec said it remains on target to start the formal US Nuclear Regulatory Commission construction permitting process early in 2026. The SMR-300 is also undergoing the Generic Design Assessment (GDA) process in the UK.
The agreement with Hyundai E&C for SMR-300 construction, expands an earlier collaboration signed in 2021. The partnership will enable rapid scaling of the SMR-300 programme based on learnings from the first-of-a-kind SMR-300 project at Palisades. Holtec’s President of Global Clean Energy Opportunities, Dr Rick Springman, commented, “The key to making SMR deployment faster and more cost-effective isn’t just learning from the industry – it’s applying those lessons directly to each new project. With Holtec’s in-house manufacturing and Hyundai E&C as our construction partner, we control most of the process, allowing us to refine and improve with every reactor we build.”
Hyundai E&C CEO Han-Woo Lee said: “Hyundai E&C has established its US subsidiary, Hyundai America, and has been making diversified investments in US power projects and SMR-300 technology. To ensure the successful completion of this project, we will work closely with the US government and leading local companies to build a systematic supply chain, create and develop high-quality jobs in the US, and develop strategies for mutual growth with local communities, ultimately pioneering a new era in the global SMR industry.”
Holtec CEO Kris Singh said: “Hyundai E&C has the most distinguished credentials as a constructor of nuclear power plants, adding: “We should also recognise our long-term ally and the third pillar of our SMR coalition, Mitsubishi Electric, whose state-of-the-art control system will be deployed in the SMR-300 plants.”
