Southern Company Gets Conditional Federal Loan Guarantee For Nuclear Reactors (SO)

The Department of energy is awarding the first conditional loan guarantee to Southern Company (NYSE: SO). The guarantee is for building two nuclear reactors in Burke. Southern Co.(SO) is planning to build two nuclear reactors at its Plant Vogtle facility. The reactors are expected to be completed by 2017. The plants will cost approximately $14 billion.

Southern Company has refused to confirm the news. The government is pushing for utilities to invest in more nuclear power plants as part of a drive to lower greenhouse gas emissions.