Westinghouse bankruptcy puts $8.3B in federal loan guarantees for Vogtle plant at risk

Loan guarantees alone, though, won’t save the Vogtle expansion: Regulators also want to see a promised payment from Westinghouse parent Toshiba Corp. and federal tax credits for new nuclear.

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Today, after including these savings, anticipated customer benefits from federal production tax credits, interest savings from loan guarantees from. continued uninterrupted at the Vogtle site.

"Westinghouse’s bankruptcy has put the future of the Vogtle project in jeopardy, increasing the likelihood that the Vogtle co-owners will default on their DOE-guaranteed loans," Taxpayers for.

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The Department of Energy (DOE), which authorized $8.3 billion in federal loan guarantees for the Georgia project, is also watching the situation.

Federal govt shows support for Georgia nuclear pla. U.S. offers Vogtle nuclear plant $3.7 billion in l. nuclear power plant: India plays major role in nuc.

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Parent guarantees were put in place to protect Georgia electric customers as part of the original contract for the Vogtle nuclear expansion. The payments will reduce the total cost of the plant for Georgia Power with every dollar received from Toshiba being used to benefit customers.

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Westinghouse’s recent bankruptcy pushed both projects further into turmoil. Unlike VC Summer, Vogtle managed to win themselves more than $8 billion in taxpayer-backed loan guarantees. So while federal.

Now, following delays and cost overruns, financial troubles at Toshiba Corp. unit Westinghouse have put. Vogtle plant. The Energy Department followed up in June 2015 with an $1.8 billion loan.

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Westinghouse is continuing to operate during its Chapter 11 bankruptcy reorganization with $800 million in financing. In a statement on the bankruptcy, Westinghouse said it would continue building the Vogtle and Summer nuclear units "during an initial assessment period," reported to be through April 28, 2017.

Bringing in some pleasant news for southern company SO, the U.S. federal government approved $3.7 billion in loan guarantees to support the Vogtle Project. The move emphasizes the government’s.

Southern Company’s (SO) Vogtle project requires additional loan guarantee of $1.6 billion from the DOE, extending the $8.3 billion already issued for the project.

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Law360, New York (February 6, 2012, 4:33 PM EST) — As the country’s first new nuclear power plant. bankruptcy filing in August put the DOE’s loan guarantee program under the microscope. “It’s.