Westinghouse bankruptcy puts $8.3B in federal loan guarantees for Vogtle plant at risk
Westinghouse Electric Co. LLC has asked a New York bankruptcy court to block Atlanta-based Georgia Power Co. from terminating the company’s contract to build two nuclear power plants at Plant.
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3/29/17 ATLANTA: In the wake of Vogtle lead contractor Westinghouse’s bankruptcy announcement yesterday, coupled with Toshiba’s revelation that it is $9.9 billion in debt from the four reactors under construction in the U.S. (two in Georgia, two in South Carolina), Atlanta-based environmental group Nuclear Watch South is issuing a detailed.
· Dive Brief: Southern Co. was awarded $8.3 billion loan guarantees issued under the Obama administration for the construction of Vogtle nuclear plant in Georgia. If Westinghouse terminates its engineering-procurement-construction contract with Southern subsidiary Georgia Power for the Vogtle project, Georgia Power could be required to prepay.
and as agent for the other Vogtle. Guarantee”); and (5) Toshiba’s financial situation, including its announcement that further substantial charges may be required in the quarter ended March 31,
The U.S. government has given $8.3 billion of loan guarantees to help finance construction of the Vogtle reactors, and a way forward to completing the plant has been agreed upon. On July 31, 2017 Southern Company division, Southern Nuclear, officially took over construction from Westinghouse and opened a bid for a new construction management contract to manage the day-to-day work on the site.
Georgia Power has taken issue with Westinghouse Electric’s proposed $800 million bankruptcy loan, saying the financing could threaten the construction of the first new nuclear reactors to be.
· Southern in Talks on Expanded U.S. Guarantees to Aid Vogtle. Energy already committed to back $8.3 billion in loans for the venture, which is the last new nuclear plant under construction in the U.S., after developers stopped work on a separate project in South Carolina. President Donald Trump has proposed killing the loan guarantee program,
· The decline of the U.S. nuclear-power industry puts America’s security at risk, according to a report being released Tuesday by former Energy Secretary Ernest Moniz that calls for greater.
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DOE Loan Guarantee Program: Vogtle Reactors 3&4. August 2017 In February 2010, the Department of Energy (doe) conditionally offered southern Company and its partners a total of $8.33 billion in taxpayer-backed loan guaranteesi to build two nuclear reactors in Georgia.
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