DOE has already paid out $5.6 billion of an $8.3 billion federal loan guarantee, Sneed reminded owners, and an additional $3.7 billion will be made available by the Trump administration if the project moves forward.
Obama blocks Yucca, and Trump give Nuclear 12 Billion. I wonder which way I will vote in 2020.
If it is canceled, DOE "will move to fully enforce its rights under the terms of the Loan Guarantee Agreements to ensure the true guarantors of those funds … are made whole," DOE wrote.
In addition to DOE, Gov. Nathan Deal, R-Ga., also urged owners to complete the plant in a letter last week, the AP reports.
"Given the project's critical economic impact to the State of Georgia, I strongly encourage [the project's] co-owners to continue work and complete the construction," Deal said. "I am counting on the project co-owners to follow through on the commitments you made to the citizens of Georgia, ratepayers and myself."
Georgia Power is expected to vote to finish the project, but a no vote from Oglethorpe or MEAG could force it to a halt.