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

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.

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 · Dive Brief: Seven utilities warned a bankruptcy court this week that they believe nuclear developer westinghouse electric will need additional funds to continue operating, saying an $800 million bankruptcy loan will be insufficient. The company burned through $900 million in the first two months of this year, Bloomberg reports.

Dive Brief: Southern Co. was awarded $8.3 billion loan guarantees issued under the Obama administration for the construction of Vogtle nuclear plant in Georgia. If Westinghouse terminates its engineering-procurement-construction contract with Southern subsidiary Georgia Power for the Vogtle project, Georgia Power could be required to prepay.

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Despite a federal loan guarantee. plant that will serve us for decades.” Georgia Power returned to this theme in its 17th VCM filing. “[T]he conditions under which the project was first certified.

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 · In 2008, Westinghouse won a contract from Georgia Power Company to build two AP1000 reactors in that state and a second contract to build two more in South Carolina; two years later, the US government announced it would provide $8.3 billion in loan guarantees to complete the Georgia plant.

In a last-ditch attempt to save the struggling vogtle nuclear energy project in Georgia, the U.S. Department of Energy has just proposed adding another $3.7 billion in loan guarantees to the $8.3.

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Toshiba May File Bankruptcy for Its Westinghouse unit tuesday. unit and miss deadlines to file earnings that have put it at risk of a delisting.. and the Vogtle Electric Generating Plant in.

Read Georgia Power vs. the law of holes by Lyle Harris for SaportaReport here.. $3.7 billion in loan guarantees for Plant Vogtle.. when the same federal loan guarantee program was used to.

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The Chapter 11 bankruptcy filing by Westinghouse Electric Co. raises questions about four unfinished nuclear reactors, two at Vogtle in Georgia and others in South Carolina.

Michele Kearney’s Nuclear Wire – Major Energy and Environmental News and Commentary affecting the Nuclear Industry. Nuclear Activities

"Significant progress has been made on the construction of Vogtle 3 & 4 since the transition to Southern Nuclear following the Westinghouse bankruptcy. to amend the DOE loan guarantee to allow for.

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