March 22, 2019 / 2:56 PM / 3 months ago

U.S finalizes $3.7 bln loan for Vogtle nuclear power plant

WASHINGTON, March 22 (Reuters) - The U.S. Energy Department on Friday finalized up to $3.7 billion in loan guarantees to finance the construction of units at the delayed and over budget Vogtle nuclear power plant in Georgia.

Up to $1.67 billion will go to Georgia Power Co, a subsidiary of Southern Co, up to $1.6 billion will go to Oglethorpe Power Corp, and up to $415 million will go to three subsidiaries of the Municipal Electric Authority of Georgia. The financing, first announced in 2017, brings the federal government’s total in loan guarantees to up to $12 billion, some of which was provided in 2014 and 2015. (Reporting by Timothy Gardner Editing by Chizu Nomiyama)

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