Westinghouse bankruptcy puts $8.3B in federal loan guarantees for Vogtle plant at risk

Westinghouse bankruptcy puts $8.3B in federal loan guarantees for Vogtle plant at risk

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ATLANTA, Dec. 5, 2017 /PRNewswire/ — Georgia Power announced today that it has reached a new agreement with Toshiba, the parent company of former primary vogtle contractor Westinghouse. federal.

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.

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Nuclear Plant Vogtle – a victim to Westinghouse bankrupty.. toshiba-owned westinghouse, has put its North American operations into Chapter 11 bankruptcy.. "The loan guarantees for the Vogtle expansion run through Southern Co., not Westinghouse..

The Chapter 11 bankruptcy filing by Westinghouse Electric Co. raises questions about four unfinished nuclear reactors, two at Vogtle in Georgia and others in South Carolina.

Despite a federal loan guarantee. plant that will serve us for decades.” Georgia Power returned to this theme in its 17th VCM filing. “[T]he conditions under which the project was first certified.

"It’s a go" at Plant Vogtle, despite $12 billion in federal taxpayer-backed nuclear loan guarantees at risk of default As Southern Alliance for Clean Energy (SACE) has reported , the Georgia Public Service Commission has voted unanimously to proceed with the Vogtle 3 and 4 new reactor construction project in Waynesboro, GA, on the banks of the.

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"Significant progress has been made on the construction of Vogtle 3 & 4 since the transition to Southern Nuclear following the Westinghouse bankruptcy," said. of the Toshiba parent guarantee.

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"Westinghouse’s bankruptcy has put the future of the Vogtle project in jeopardy, increasing the likelihood that the Vogtle co-owners will default on their DOE-guaranteed loans," Taxpayers for.

Today, after including anticipated customer benefits from federal PTCs, interest savings from loan guarantees from the DOE. has continued uninterrupted at the Vogtle site following Westinghouse’s.

Now, following delays and cost overruns, financial troubles at Toshiba Corp. unit Westinghouse have put. Vogtle plant. The Energy Department followed up in June 2015 with an $1.8 billion loan.

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