Southern’s Nuclear Units to Get $6.5 Billion U.S. Backing
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The U.S. Energy Department will complete $6.5 billion in loan guarantees tomorrow for two nuclear reactors being built at Southern Co.’s Vogtle plant in Georgia, four years after conditionally backing the project.
The agency will sign agreements with Southern’s Georgia Power Co. utility, which owns 46 percent of the reactors, and co-owner Oglethorpe Power Corp., Energy Secretary Ernest Moniz said today in Washington. The U.S. continues to work on $1.8 billion in backing for the Municipal Electric Authority of Georgia, another partner, he said.