DOE issues remaining $1.8bn nuclear loan guarantee for Plant Vogtle

The U.S. Department of Energy (DOE) announced it would issue the remaining $1.8 billion in loan guarantees for two new nuclear reactors under construction at Plant Vogtle in Georgia.
 
The funds will go to three subsidiaries of the Municipal Electric Authority of Georgia (MEAG), one of the co-owners of the plant along with Georgia Power, a subsidiary of Southern Co. (NYSE: SO), Oglethorpe Power Corp. and Dalton Utilities. This funding is the last of the three conditional commitments first announced in 2010. When combined with the previously issued $6.5 billion in loan guarantees to Georgia Power and Oglethorpe, the loan guarantees allow the reactors to be fully financed. Dalton Utilities did not apply for any loans.
 
The Vogtle project consists of two 1,100-MW Westinghouse AP1000 reactors at the site of two operating reactors. The new reactors are expected to come online in 2019 and 2020.
 
Subscribe to Nuclear Power International magazine



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

Whitepapers

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...