The White House will today announce $8.3 billion in loan guarantees to help finance two new nuclear reactors in Georgia, some of the first to be built in 30 years.
The loan guarantee — which would commit the government to repay a portion of the debt liabilities of Southern Co., the company building the reactors, in the case of default — would cover about 70 percent of the cost of the project.
The two new reactors would not represent new plants, but would be added to two reactors already running at Southern’s Vogtle plant 170 miles east of Atlanta. The new pair would come on-line around 2016 or 2017.