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

Westinghouse Plant Vogtle bankruptcy will cost Georgia ratepayers and workers. Chatham County taxpayers have already paid at least $7 million to finance two new nuclear reactors at Plant. Vogtle. The project received $8.3 billion in federal loan guarantees from the U.S..

Toshiba, hit by the bankruptcy of its U.S. subsidiary Westinghouse, saw its.. of an increasing number of nuclear plants “at risk” of early closures. bankruptcy puts $8.3B in federal loan guarantees for Vogtle plant at risk”,

Law360, New York (February 6, 2012, 4:33 PM EST) — As the country’s first new nuclear power plant. bankruptcy filing in August put the DOE’s loan guarantee program under the microscope. “It’s.

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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Utilities say Westinghouse loan puts their reactor construction at risk. Westinghouse filed for bankruptcy in March, blaming billions of dollars of cost overruns at two nuclear power plants it.

 · Georgia Power gained a $3.2 billion payment guarantee from the parent of a bankrupt contractor on the troubled Vogtle nuclear reactor work, even as the state’s utility regulators say the long.

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Developers of a troubled nuclear plant in Georgia are seeking more federal support for the project, potentially increasing a record $8.3 billion loan guarantee it has. required changes after the.

In a news release, Westinghouse attributed its bankruptcy filing to "financial and construction" challenges with its AP1000 reactors at both Plant Vogtle and a second project in South Carolina.

“Today, we have taken action to put Westinghouse. a tax credit package, loan guarantees, and cost-overrun protections. In 2008, Westinghouse inked deals to build four reactors, two for Southern.

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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,

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The outlook for the Vogtle project is further complicated by $8.3 billion in federal loans guarantees. Westinghouse’s bankruptcy filing could trigger repayment provisions in the loan agreement.