nuclear-news

$1.8B in tax-payer loans for USA nuclear plant – as its costs soar

Energy Department guarantees $1.8B in loans for GA nuclear plant, The Hill,  By Devin Henry – 06/24/15 The Department of Energy (DOE) will guarantee $1.8 billion in loans for the operators of two new nuclear reactors under construction at a power plant in Georgia, the department announced on Wednesday.

The government had previously provided $6.5 billion in loan guarantees for the Vogtle Electric Generating Plant project, the country’s first new nuclear facility to be licensed and begin construction in more than 30 years. Wednesday’s step, officials said, will allow the project to be fully-financed………….

Construction at the Vogtle plant has been plagued by delays, and the Associated Press reportedWednesday that cost overruns have threatened the $2.7 billion in savings project executives have said they would secure since state regulators approved construction in 2009. Operators expect to spend at least $7.5 billion on the project. …http://thehill.com/policy/energy-environment/245975-energy-department-guarantees-18b-in-loans-for-ga-nuclear-plant

June 26, 2015 - Posted by Christina Macpherson | politics, USA