DOE announces $1.8 billion in loan guarantees for Vogtle plant expansion

The U.S. Department of Energy announced on Wednesday that $1.8 billion in loan guarantees would be made available to the Alvin W. Vogtle Electric Generating Plant for the construction of two nuclear reactors.

The loan guarantees will go to three subsidiaries of the Municipal Electric Authority of Georgia (MEAG Power) that will be directly involved in the construction of the additional power plants.

"As we move toward 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. “The Vogtle project has put the U.S. at the forefront of a new generation of advanced nuclear reactors, incorporating numerous innovations resulting in significant operational and safety improvements, and helping to train a world-class workforce with expertise in building nuclear power plants.”

Currently there are two reactors at the Vogtle facility. 

“Plant Vogtle continues to lead the way in the expansion of our nation’s nuclear energy resources, bringing the first two new nuclear reactors constructed in the United States in more than 30 years,” U.S. Rep. Rick Allen (R-GA) said.