DOE Extends $8 Billion Loan Guarantee for Nuclear Plant
Posted on Jun 11, 2012 in Financing, Grid & Infrastructure, Project Development, Regulation & Policy | Comments Off on DOE Extends $8 Billion Loan Guarantee for Nuclear Plant
The Department of Energy has extended its conditional commitment to the end of the year to provide an $8.3 billion federal loan guarantee to help finance the nuclear expansion of Plant Vogtle in Georgia. Southern Company officials initially said the agreement would be finalized by the end of June. Southern Company subsidiary Georgia Power Company and nuclear partners Oglethorpe Power and MEAG were conditionally approved in February 2010 to receive the guarantee through a loan-guarantee program under which the government promises to assume a company’s debt if the company defaults. The Augusta Chronicle has the full story.
