Twin Nuclear Plants In Georgia Get $3.7 Billion Lifeline

30 Sep 2017   Nuclear, USA

Nuclear power plants received a much needed boost from the Trump administration this week when the White House approved $3.7 billion in loan guarantees for two struggling power plants in Georgia. The pair is currently under construction, and has already received $8.3 billion in similar loans from the Obama administration. The loans would be funneled through three companies to the two projects. Of the promised debt, $1.67 billion would go to the Georgia Power Company, $1.6 billion would go to the Oglethorpe Power Corporation and $415 million would go to the Municipal Electric Authority of Georgia. To date, the U.S. government has offered $12 billion for this pair of projects. Nuclear power projects in the U.S. have had to battle the rise of natural gas – a fossil fuel considered to be healthier for the environment than coal and oil, while being cheaper than nuclear energy. The Energy Information […]

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