Department Of Energy Nears Approval Of $8.3 Billion Loan For Nuclear Reactors


Energy Secretary Steven Chu announced that he expects to finalize an $8.3 billion taxpayer-backed loan for two new nuclear reactors in Georgia, setting up another battle in Washington over the government's investments in energy-related projects, The Hill reported.

According to the news outlet, the Department of Energy (DOE) offered the loan guarantee to Southern Co. in February 2010, but the deal can not be finalized until it meets a number of key regulatory approvals.

Chu noted that the loan guarantee is nearing the final stages of approval, less than a week after the Nuclear Regulatory Commission (NRC) issued a license for the project.

"We expect that one to close and go forward," Chu told reporters. He added that "there are a number of other milestones" the project must achieve before getting an approval from the DOE.

According to U.S. News & World Report, this marked the first time since the Three Mile Island disaster in 1979 that the NRC granted a license for new reactor construction, signaling that the U.S. is ready to move forward with new projects in the sector.

Personal Liberty

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.