[Washington Examiner] Energy Secretary Rick Perry on Friday issued a $3.7 billion federally-backed loan guarantee to keep the Vogtle nuclear power plant under construction in Georgia afloat after years of cost overruns and project delays.Perry made the announcement after touring the site in Georgia with utility industry officials involved in the project, state regulators, and the governor of Georgia.
He said the Vogtle project is "critically important" to the administration’s goal of revitalizing and expanding the U.S. nuclear industry. "A strong nuclear industry supports a reliable and resilient grid, and strengthens our energy and national security," he said.
Perry also noted that Vogtle is an energy infrastructure project "with a massive scope employing thousands of workers" that is rebuilding a highly skilled nuclear workforce and supply chain for the future.
But while Perry was touring the site, critics argued that the new financing places the taxpayer on the hook for $12 billion if the power plant flounders.
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