Vogtle to receive additional USD 3.7B loans

11 October 2017

To further support the construction of two advanced nuclear reactors at the Alvin W. Vogtle Electric Generating Plant, U.S. Secretary of Energy Rick Perry announced conditional commitments for up to USD 3.7B in loan guarantees to Vogtle owners: USD 1.67B to Georgia Power Company (GPC), USD 1.6B to Oglethorpe Power Corporation (OPC), and USD 415M to three subsidiaries of Municipal Electric Authority of Georgia (MEAG Power). The Department has already guaranteed USD 8.3B in loans to GPC, OPC, and MEAG Power subsidiaries to support construction of Vogtle Units 3 and 4.

The Vogtle project is the first new nuclear power plant to be licensed and begin construction in the United States in more than three decades. The two new 1,100 megawatt Westinghouse AP1000® nuclear reactors at Vogtle represent the first U.S. deployment of this innovative technology.

The Energy Policy Act of 2005 authorized the Department to issue loan guarantees for projects in the U.S. that employ new or significantly improved technologies and avoid, reduce, or sequester greenhouse gases. If the new Vogtle loan guarantees are approved, they would be the first issued under the USD 12.5B Advanced Nuclear Energy Projects Solicitation issued in December 2014.

Back to the news archive...

top
  bottom
KCI Publishing Copyright © 2017 - Disclaimer