DOE issues solicitation for $12.5 billion nuclear loan guarantee

The Department of Energy said Dec. 10 that it has issued a solicitation for up to $12.5 billion in federal energy loan guarantee money to support advanced nuclear energy projects.

The first deadline for Part 1 applications is March 18, 2015. That deadline will be followed by rolling deadlines about every six months, according to GenerationHub.

The effort would support construction of nuclear power projects that reduce or avoid greenhouse gas emissions, according to a DOE news release.

DOE has identified several key areas of interest in the proposal. They include: Small modular reactors or SMRs, uprates and upgrades at existing facilities, and front-end nuclear projects.

Energy Secretary Ernest Moniz announced the measure and touted it as part of the Obama administration's "all-of-the-above" energy strategy.

Southern Co. unit Georgia Power and its partners are using a federal loan guarantee to help underwrite the costs of the Vogtle 3 and 4 project in Georgia. However, SCANA is not using a federal loan guarantee in its development of V.C. Summer Units 2 and 3 in South Carolina. NuScale Power has also received a DOE loan guarantee to help commercialize its 50-MW SMR technology.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs