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Monday, 29 June 2015 09:00

Loan guarantees for Vogtle advanced nuclear energy project

To further support the construction of two advanced nuclear reactors at the Alvin W. Vogtle Electric Generating Plant, the Department of Energy has announced it would issue $1.8 billion in loan guarantees to three subsidiaries of the Municipal Electric Authority of Georgia (MEAG Power). This is the last of three conditional commitments that were first announced by the Administration in 2010, which, when combined with the previously issued $6.5 billion in loan guarantees to Georgia Power Company (GPC) and Oglethorpe Power Corporation (OPC), allow the project to be fully financed. This project is a crucial part of America’s revitalized nuclear energy industry and will further support the nation’s clean energy economy, Caspian Energy News (www.caspianenergy.net) reports with reference to the statement of US Energy Department.

The Vogtle project is the first new nuclear power plant to be licensed and begin construction in the U.S. 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 and once they come on line, the new nuclear reactors are expected to provide enough reliable electricity to power nearly 1.5 million American homes and avoid nearly 10 million metric tons of carbon dioxide emissions annually.

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