ATLANTA – U.S. Energy Secretary Rick Perry today announced the closing of approximately $1.67 billion in additional Department of Energy (DOE) loan guarantees for the new Vogtle nuclear power units being built by Georgia Power.
Georgia Governor Brian Kemp, U.S. Agriculture Secretary Sonny Perdue, and Georgia Power officials were among those who joined Perry for the announcement at the Vogtle 3 & 4 nuclear expansion project near Waynesboro, Georgia.
“The Vogtle project is critically important to supporting the Administration’s direction to revitalize and expand the U.S. nuclear industry,” said Secretary Perry. “A strong nuclear industry supports a reliable and resilient grid, and strengthens our energy and national security.”
Georgia Power had previously secured loan guarantees of $3.46 billion for the construction of the new units, the first to be built in the United States in more than 30 years.
“Since the project began, we have committed to minimize the impact these new units will have on customers’ bills, and securing these loans plays a key role by reducing our financing costs and passing along those benefits to our customers,” said Georgia Power Chairman, President and CEO Paul Bowers. “We thank the administration, DOE, Secretary Rick Perry and members of Congress for their continued support of the Vogtle 3 & 4 project.”
The Vogtle project is the first new nuclear power plant to be licensed and begin construction in the United States in more than three decades. Once in operation, these two new nuclear reactors are expected to provide more than 17 million megawatt-hours of clean electricity annually. This is enough reliable electricity to power more than 1.6 million American homes while avoiding nearly 10 million metric tons of carbon dioxide emissions annually, according to the U.S. Department of Energy.
The two new nuclear reactors at Vogtle will supplement the two existing reactor units at the site. Currently, approximately 7,500 construction workers are on site and more than 9,000 workers are expected to be on site during peak construction. Approximately 800 permanent jobs are expected once the units begin operation.
Construction on the project is now 75 percent complete, according to Georgia Power.
Georgia Power owns 45.7 percent of the new units, with the project’s other co-owners including Oglethorpe Power, MEAG Power and Dalton Utilities.
