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Loan Guarantee Program

Georgia Power Company (GPC), Oglethorpe Power Corporation (OPC), Municipal Electric Authority of Georgia (MEAG)

Georgia Power Company (GPC), Oglethorpe Power Corporation (OPC), Municipal Electric Authority of Georgia (MEAG) - Infographic
Location:
Waynesboro, GA
Eligibility:
1703
Generation
Capacity
2,200 mw
Annual
Generation Output
17,152,000 mwh
Annual Avoided CO2 9,932,000 tons
Jobs construction 3,500
Jobs
permanent
800
Annual Cars off the Road 2,122,000
Annual
Household Equivalent
1,520,000
Loan Amount $8.33 billion

Snapshot

In February 2014, the Department of Energy issued $6.5 billion in loan guarantees to GPC and OPC to support the construction of the nation’s next generation of advanced nuclear reactors. The Department of Energy and MEAG continue to work on the remaining conditional commitment for an additional $1.8 billion loan guarantee. The Vogtle project will build two Westinghouse AP1000 Generation III+ reactors at the Alvin W. Vogtle Electric Generating Site, which currently has two older generation pressurized water reactors in operation. 

Innovation

The project is the first U.S. deployment of the Westinghouse AP1000 Generation III+ reactor. The AP1000 was designed by Westinghouse as the next generation nuclear reactor that could provide a standardized design for the U.S. utilities market. The reactor is an evolutionary improvement over existing reactors, featuring advanced safety components.  For example, the AP1000 can shut down passively without external power or human intervention. The AP1000 is built with modules manufactured off-site and then assembled onsite. This improves quality and eases construction when compared to the last generation of nuclear reactors built in the U.S.  In addition, the AP1000 has a smaller footprint, using less land than older designs.

Development

This project will create 3,500 onsite construction jobs and will provide permanent 800 jobs once the units begin operation.

Impact

Upon completion, this project will generate enough electricity to power more than 1.5 million homes. It also will avoid almost 10 million metric tons of carbon dioxide annually, equivalent to the emissions of more than two million vehicles.

 

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