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Thursday, July 4, 2013 - 10:39am

Feds Extend Vogtle Loan Deal Deadline

Updated: 1 year ago.
The federal government has granted a third deadline extension to owners of Plant Vogtle to agree to terms for federal loan guarantees of up to $8.3 billion to help finance two new nuclear reactors in Georgia. (Photo Courtesy of Southern Co.)

The federal government has granted a third deadline extension to owners of Plant Vogtle to agree to terms for federal loan guarantees of up to $8.3 billion to help finance two new nuclear reactors in Georgia.

The loan guarantee offer from the U.S. Department of Energy has been on the table since 2010 and the last deadline passed at the end of June. Loan-guarantee financing would have the government assume the plant owners' debt if they default. But no agreement has been reached on the details.

Jeannice M.W. Hall, a Southern Co. spokeswoman, said Wednesday the new deadline for completing the loan guarantee arrangements is Sept. 30.

Plant Vogtle is owned by Southern Co. subsidiary Georgia Power, Oglethorpe Power and Municipal Electric Authority of Georgia.

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