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

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...