COVERT, MI — Palisades nuclear plant owner Holtec International has signed an agreement with Hyundai to build the first of a new fleet of small reactors in Michigan.

Holtec International has signed an agreement with Hyundai Engineering and Construction to build two small modular reactors (SMRs) at the Palisades nuclear plant in Michigan, CNBC reported on Tuesday.

The owner of the Palisades nuclear plant, Holtec International, signed a strategic agreement to build two small modular reactors at the site with Hyundai E&C. The agreement aims more broadly to deploy a 10-gigawatt fleet of the reactors in North America.