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.
· 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.