The U.S. Department of Energy (DOE) last week issued final approval for Georgia Power’s agreement with Georgia Power and partners to receive all remaining scheduled payments from Toshiba concerning the Vogtle nuclear reactor project in a lump sum of roughly $3.2 billion, by Dec. 15. Toshiba’s payment is in lieu of said payments from its subsidiary and former project primary contractor, Westinghouse Electric, which declared Chapter 11 bankruptcy on March 29.
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The U.S. Department of Energy (DOE) is soliciting proposals for cost-shared projects to develop industry-driven nuclear reactor designs and accompanying technologies with high potential to advance nuclear power. “Targeted early-stage investment in advanced nuclear technology will support a strong domestic industry now and into the future,” said Energy Secretary Rick Perry. “This funding opportunity is an important step to ensure our nation continues to benefit from this clean, resilient source of electricity.”
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