No one has ever restarted an American nuclear reactor that was seemingly closed for good. But with electricity demand spiking, interest is growing.

The U.S. Energy Department on Monday finalized a $1.5 billion loan guarantee to help Holtec International restart the Palisades nuclear power in southwest Michigan, an effort that will be bolstered by $1.3 billion in federal grants for two rural cooperatives that plan to buy electricity generated by the facility.

The restart of the reactor at Palisades would mark a milestone for the nuclear industry after a decadelong wave of reactor shutdowns in the U.S.