Energy Department guarantees $1.8B in loans for GA nuclear plant
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.
“As we move towards a low-carbon future, the Department’s loan guarantees will play an important part in expanding the role of nuclear energy as a part of our all-of-the-above energy strategy,” Energy Secretary Ernest Moniz said in a statement.