New U.S. nuclear plant compared to ‘Solyndra’

Published: January 31st, 2013 at 4:59 pm ET


Title: Georgia nuclear power plant could be Solyndra redux, report says
Source: Christian Science Monitor
Author: Mark Clayton
Date: January 30, 2013

Construction of the first newly licensed US nuclear power plant in decades could become a “Solyndra-like” debacle thanks to billions in federal loan guarantees whose terms appear too weak to protect taxpayers, according to one group’s analysis of internal documents released by the US Department of Energy.

The two-reactor $14 billion Vogtle plant being built in Georgia is seen as a test of the US nuclear industry’s planned “renaissance” [...]

But two Massachusetts-based energy-consulting firms, Earth Track and Synapse Energy Economics, say the $8.3 billion in federal loan guarantees backing the project were crafted with excessively favorable financial terms for the recipient companies, weak federal oversight, and possible political interference in the loan-guarantee process. [...]

See also: [intlink id="breaking-ceo-of-ge-says-nuclear-power-really-hard-to-defend-financially-at-some-point-really-economics-rule" type="post"]{{empty}}[/intlink]

Published: January 31st, 2013 at 4:59 pm ET


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