Vogtle Units 3 and 4 have received the last of three conditional $1.8 billion loan guarantees from the U.S. Department of Energy (DOE), enabling the nuclear power project to complete securing private financing.

Southern Nuclear Operating Co. are constructing two new units on this site by 2016-2017-Plant vogtle in Georgia. Source: Wikipedia.orgThe new Vogtle units are being built using Westinghouse AP1000 technology. The plant will be licensed and operated by Southern Nuclear Operating Co.

The DOE offers loan guarantees for projects that avoid, reduce or sequester greenhouse gas emissions and employ "new or significantly improved" technologies.

The DOE's loan programs office currently supports a portfolio of more than $30 billion in loans, loan guarantees and commitments to energy projects. A further $12.5 billion of loan guarantees are also available to support innovative nuclear energy projects.

Construction of Vogtle unit 3 began in March 2013, with unit 4 following in November 2013. The reactors are being built by a consortium of Westinghouse and CB&I/Stone and Webster; they are scheduled to start operations in 2019 and 2020, respectively.

The world's first AP1000 reactors, currently under construction at Sanmen and Haiyang in China, are scheduled to be in operation by the end of 2017. Two other AP1000 reactors are also under construction in the U.S. at the VC Summer site in South Carolina.

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Delay for Plant Vogtle Nuclear Expansion