22 Sep '11, 1pm

A Giant Nuclear Project Awaits Its Federal Loans

A Giant Nuclear Project Awaits Its Federal Loans

Southern Company Water pipes are put in place for Vogtle 4, one of two additional reactors to be constructed near Augusta, Ga. The “nuclear island” for Unit 4 is behind them. Federal help for energy projects has taken it on the chin lately, with Solyndra , the California solar manufacturer championed by the Obama administration, declaring bankruptcy after taking $528 million in loans from the Treasury. But a much larger federal loan guarantee for an energy project is expected soon: $8.3 billion in loan guarantees announced last year by President Obama for two nuclear reactors in Georgia. Yet the venture is fundamentally different from Solyndra’s, according to the chairman and chief executive of the Southern Company, which owns 46 percent of the project. The loan guarantee will come in phases, the first of which will begin when the Southern Company gets a license from the N...

Full article: http://green.blogs.nytimes.com/2011/09/22/a-giant-nuclear...

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