US Energy Secretary Ernest Moniz is travelling to Georgia on Thursday to mark the issuance of approximately USD 6.5 billion in loan guarantees for the construction of two new nuclear reactors at the Alvin W Vogtle Electric Generating Plant.

The project represents the first new nuclear facilities in US to begin construction and receive NRC license in nearly three decades.

In addition, the deployment of two new 1,100 megawatt Westinghouse nuclear reactors is a first-mover for a new generation of advanced nuclear reactors.

"In 2010, the Department of Energy offered conditional commitments for USD 8.3 billion in loan guaranteed to support construction of the country's first new generation nuclear power plants in nearly 30 years," Moniz told reporters.

"This was again in the spirit of the first mover challenge of getting some new nuclear plants built, and three separate commitments were made to three of the four owners of the plant. Tomorrow, the department is closing on two of those commitments to Georgia Power and to Oglethorpe Power Corporation, constituting six and a half billion dollars of those loan guarantees," Moniz said.

"These will be new 1100 megawatt Westinghouse AP1000 nuclear reactors. The first US deployments of this next generation of advanced reactors," he said.

"The construction of new nuclear power facilities like this one - which will provide carbon-free electricity to well over a million American energy consumers - is not only a major milestone in the Administration's commitment to jumpstart US nuclear power industry, it is also an important part of our all-of-the-above approach to American energy as we move toward a low-carbon energy future," Moniz said.

"The innovative technology used in this project represents a new generation of nuclear power with advanced safety features and demonstrates renewed leadership from US nuclear energy industry," he said.

When the new nuclear reactors come on line, they will provide enough reliable electricity to power nearly 1.5 million American homes.


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