Obama expected to award nuclear loan guarantee to Southern

15 February 2010 - Administration officials expect president Barack Obama to announce a loan guarantee to be granted to Southern Company. This would make Southern, headquartered in Georgia, the first nuclear loan guarantee recipient in nearly three decades.

The Department of Energy will add $36 billion in funding for its 2011 budget for nuclear plant loan guarantees. Some $18.5 billion was already approved for this program in 2011. The nuclear loan guarantee program began in 2005 to foster the further growth of the country's nuclear fleet.

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