Vogtle nuclear project getting Trump lifeline with $3.7B loan guarantee

Owners of the long troubled Vogtle nuclear plant expansion in Georgia have struggled to keep their project alive, but made a commitment late last year to see it through.

They may get some much needed good news later this week. A Bloomberg story indicates that Energy Secretary Rick Perry will visit the site near Waynesboro, GA., and should be announcing about $3.7 billion in loan guarantees.

As noted in the story, this would a critical lifeline for the long-delayed project to build Vogtle reactor units 3 and 4. The costs are running upwards of $25 billion, while its partners Georgia Power, Oglethorpe Power, Municipal Electric Cooperatives of Georgia and Dalton Power gave their conflicted blessings to forge ahead, despite fierce opposition from environmental and some utility quarters, as well as contractor Westinghouse’s Chapter 11 bankruptcy.

The Trump Administration has argued for years that the U.S. needs to help struggling coal and nuclear plants, being closed for economics under pressure of falling costs for renewables and natural gas-fired generation. This may be the administration’s first tangible move in that direction.

Click here for more on the Bloomberg story about the Trump Administration’s loan guarantees for Vogtle.




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