"The Trump administration is set to close on new loan guarantees for Southern Co.'s Plant Vogtle, the nation's lone nuclear construction project, sources have confirmed to E&E News.
The $3.7 billion in loan guarantees represent a new lifeline for the reactors, which are years behind schedule and billions above their original projected budget. Energy Secretary Rick Perry will formally sign off on the agreement when he visits Vogtle, in southeast Georgia, on Friday.
Perry's visit brings fanfare to the reactors, but the loan guarantees highlight nuclear's chief challenge, which is cost. To be clear, Vogtle is the last project standing after what was supposed to be an industry resurgence that was killed in large part by falling natural gas prices, flat electricity demand and rapidly expanding renewable energy."
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