Oglethorpe Power closes DOE loan for nuclear plant

Oglethorpe Power Corp. finalized an agreement with the Department of Energy (DOE) for a $3.057 billion loan guarantee.

This amount is to be used for the corporation’s share of two new nuclear units currently under construction at Plant Vogtle located in Waynesboro, Georgia. Oglethorpe Power’s ownership is 30 percent, representing 660 MW of capacity.

The additional capacity from units 3 and 4 at Plant Vogtle will provide an emission free power generation resource to meet members’ future power supply needs. The two units are expected to come online in 2017 and 2018, respectively.

Oglethorpe Power is one of the nation’s largest power supply cooperatives, with $9 billion in assets, serving 38 electric membership corporations that, collectively, provide electricity to more than 4.1 million Georgians.

Oglethorpe operates an energy portfolio of owned and managed resources includes natural gas, hydroelectric, coal, and nuclear generating plants with a combined capacity of bout 7,800MW. Oglethorpe was established in 1974 and is owned by its 38 Member Systems. It is headquartered in Tucker, Georgia.

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