US issues final $1.8bn for nuclear project

The US Department of Energy has provided its final $1.8 billion (£1.1bn) loan for a nuclear project plant in Georgia. It had previously issued $6.5 billion (£4bn) for the Vogtle project which is said the first […]

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By Jacqueline Echevarria

The US Department of Energy has provided its final $1.8 billion (£1.1bn) loan for a nuclear project plant in Georgia.

It had previously issued $6.5 billion (£4bn) for the Vogtle project which is said the first new nuclear power plant to be licensed in more than three decades.

The loan will help build two new reactors with a capacity of 1,100MW – enough electricity to power nearly 1.5 million homes.

It also will avoid almost 10 million metric tons of carbon emissions per year.

Energy Secretary, Ernest Moniz said: “As we move towards a low carbon future, the department’s loan guarantees will play an important part in expanding the role of nuclear energy as a part of our all-of-the-above energy strategy.

“The Vogtle project has put the US at the forefront of a new generation of advanced nuclear reactors, incorporating numerous innovations resulting in significant operational and safety improvements and helping to train a world-class workforce with expertise in building nuclear power plants.”

The new project will create around 4,600 jobs during construction and 750 permanent positions during operation.