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Trump to finalize $3.7 billion in aid for troubled nuclear plant

from Bloomberg via Yahoo Finance

The Trump administration will finalize $3.7 billion in loan guarantees to Southern Co. and its partners who are building a troubled nuclear reactor project in Georgia — the last of its kind under construction in the U.S. — according to two people familiar with the matter. The guarantees, expected to be announced when U.S. Energy Secretary Rick Perry visits Plant Vogtle alongside Georgia Governor Brian Kemp and Southern Chief Executive Officer Tom Fanning, represents a critical lifeline for the project, which is more than five years behind schedule and has doubled in cost to $28 billion. The plant, near Waynesboro, Georgia, is seen as critical to the nuclear industry’s future because existing reactors are struggling to compete with cheap natural gas and renewable energy. more

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