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

PDF agi.y; agi.y 3a4 – georgiapower.com – closed on loan guarantees for the construction of Vogtle units 3 and 4, providing customers approximately $265 million of present-value benefit. Westinghouse filed for Chapter 11 bankruptcy in march 2017. southern Nuclear assumed control of the Vogtle 3 and 4 site. Georgia Power received unanimous approval Dec. 21, 2017,

But Plant Vogtle does employ about 900 people in the Waynesboro area. The bankruptcy could leave the plants’ owners saddled with costs Westinghouse can’t cover. The projects are already years.

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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.

Japanese conglomerate Toshiba Corp is considering putting its Westinghouse Electric Co unit into U.S. Chapter 11 bankruptcy as soon as Tuesday due to runaway costs at two U.S. nuclear power plant.

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.

NEW YORK (Reuters) – Japanese conglomerate Toshiba Corp is considering putting its Westinghouse Electric Co unit into U.S. Chapter 11 bankruptcy. the Vogtle projects, it said in a 2015 press.

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Georgia nuclear pain: Plant Vogtle faces Westinghouse bankruptcy? – Georgia Power has wrestled with delays and increasing costs at the Plant Vogtle nuclear expansion. Now it faces new complications with the bankruptcy filing by leading contractor Westinghouse.

Georgia Power weighs next steps as Chatham County residents. – "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.

Troubled nuclear plant costs rising for Savannah residents – In 2010, the Obama administration granted the project $8.3 billion in federal loan. guarantee." Southern Company CEO Tom Fanning flew to Tokyo ahead of the bankruptcy announcement to stress to the.

On March 29, the day that Westinghouse filed for Chapter 11 bankruptcy protection in New York, Bloomberg noted: "Westinghouse Electric Co., once synonymous with America’s industrial might, wagered its future on nuclear power and lost." 1. Whether Westinghouse will survive is an open question.