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Obama announces 8.3 billion loan guarantee for 2 new nuclear power plants
by Rich Hessler Solar on May 13, 2010
President Obama announced Tuesday, February 16th that a $8.3 billion loan guarantee would be awarded to Southern Company in Burke, GA. This was part of his plan to create a clean energy economy. Nuclear power plants do not create greenhouse gas emissions, therefore appearing more favorable than coal-fired power plants. In fact, they actually produce nuclear waste which is harmful to the environment since most nuclear waste cannot be disposed of and American plants do not recycle the nuclear waste as France does. The two nuclear reactors are set to be in service by 2016 and 2017. They are positioned to be the first nuclear reactors to reach government approval since 1979. The $8.3 billion loan guarantee would help subsidize most of the private loans Southern Company would have to acquire in order to build the nuclear power plants. The subsidy would cover about 70% of the total cost of the reactors.The commissioning of these two nuclear reactors is estimated to produce 3,500...Read More >>
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Obama announces 8.3 billion loan guarantee for 2 new nuclear power plants
President Obama announced Tuesday, February 16th that a $8.3 billion loan guarantee would be awarded to Southern Company in Burke, GA.
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