Obama offers $8.3B in nuke loan guarantees
President Barack Obama and the U.S. Department of Energy announced $8.3 billion in loan guarantees Tuesday for two nuclear reactors planned for Georgia Power’s Plant Vogtle outside of Augusta.
Tuesday’s announcement is a shot in the arm for the Southern Co.-subsidiary’s efforts to construct the massive reactors at its Burke County plant that are expected to cost the Atlanta-based company and its partners more than $14 billion.
It has been more than 30 years since the last nuclear reactor was built in the United States, and Vogtle is the first planned nuclear project to receive the pledge of conditional loan guarantees by the federal government.
Read the full report in the Atlanta Business Chronicle.
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