On June 9, Toshiba Corp. announced a $3.68 billion guarantee for the development of the Vogtle nuclear reactors. The guarantee is part of an agreement between Georgia Power, a subsidiary of the Southern Company, and Toshiba, the parent company of Vogtle contractor Westinghouse. Westinghouse was hired the primary contractor to build the Vogtle reactors, but filed for bankruptcy on March 29, 2017. The two Vogtle nuclear reactors in Georgia are co-owned by Georgia Power, Oglethorpe Power, MEAG Power and Dalton Utilities. According to a press release by Georgia Power, the agreement has been approved by the U.S. Department of Energy.
For more information, please contact Phillip Hoover.