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DOE to OK $6.5B for Georgia Nuclear Plant

posted by Dopefish on Sunday February 23 2014, @02:00AM   Printer-friendly
from the all-hail-the-almighty-atom dept.

CyberB0B39 writes: "The Department of Energy is set to approve $6.5B for a Georgia nuclear power plant, the first such plant in more than 3 decades. While other nuclear plants are shutting down due to competition from natural gas, Atlanta-based Southern Company is forging ahead with its planned construction of the plant."

[ED Note: "For those that are wondering, the new nuclear plant will be based on the AP1000 design by Westinghouse Electric Company LLC, a company based in Pittsburgh, PA and a subsidiary of Toshiba."]

 
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  • (Score: 1) by mojo chan on Sunday February 23 2014, @10:55AM

    by mojo chan (266) on Sunday February 23 2014, @10:55AM (#5146)

    The 50% default rate is for commercial loans. When the government guarantees a loan and then the operator can't service it the government usually throws in more money to keep the project afloat. Aside from not wanting to lose the original guarantee amount the government also wants the energy that the plant will generate. That's why guarantees from the government are worth so much more than a guarantee from anyone else - they will keep throwing more and more money at the project almost indefinitely.

    --
    const int one = 65536; (Silvermoon, Texture.cs)