Dive Brief:
- Negotiations will continue between the Department of Energy and Georgia utilities on the terms of an $8.3 billion loan guarantee that would have taxpayers assume the utilities' debt if they default on the project. Southern Co. unit Georgia Power owns the largest share of the project, with Oglethorpe Power and Municipal Electric Authority of Georgia owning the remainder.
- The new Westinghouse AP-100 reactors are set to go online in 2017 and 2018. But the project is beset by construction delays that have led to the estimated cost rising from around $14 billion to more than $15 billion. moreover, contractors building the to reactors have sued the utilities for $900 million over who is to blame for the delays.
Dive Insight:
Remember Solyndra? That was the California solar power company that declared bankruptcy on 2011 after it had received a $535 million loan guarantee from DOE.