Ga. Power receives first Toshiba payment for Vogtle project

[private]Georgia Power said Monday it has received the first of several payments that have been promised by Toshiba for the Plant Vogtle nuclear project.

Georgia Power’s share of the $300 million payment will be $137 million, with the rest divided up among the other partners in the project:  Oglethorpe Power, MEAG Power, and Dalton Utilities.

Toshiba has pledged to pay a total of $3.68 billion toward the Vogtle project because of the bankruptcy of its subsidiary Westinghouse Electric, which had been the primary contractor.

The U.S. Department of Energy announced Friday it would guarantee another $3.7 billion in federal loan guarantees for Vogtle, the only nuclear project still under construction in the U.S.

© 2017 by The Georgia Report

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Tags: Georgia Power , Plant Vogtle , Toshiba