Le Lézard
Classified in: Oil industry, Business
Subject: FNC

Oglethorpe Power Corporation Receives Additional DOE Loan Guarantee Offer



TUCKER, Ga., Sept. 29, 2017 /PRNewswire/ -- Oglethorpe Power Corporation has received a conditional commitment from the U.S. Department of Energy (DOE) of an additional loan guarantee for approximately $1.62 billion to finance a portion of its costs to construct Plant Vogtle Units 3 and 4 near Waynesboro, GA.

This loan guarantee is in addition to a $3.057 billion loan guarantee issued to Oglethorpe Power by the DOE in February 2014. The commitment is subject to the execution of definitive agreements to be entered into between Oglethorpe Power and the DOE.

"We are very pleased to have been offered this additional loan guarantee from the DOE and expect that this financing arrangement, coupled with our original DOE loan, will conservatively result in net present value benefits of over $500 million to our members and their customers," said Elizabeth B. Higgins, executive vice president and chief financial officer.

"We appreciate the DOE's hard work and dedication over the past several months to achieve this milestone."

Oglethorpe Power owns a 30 percent share of Vogtle Units 3 and 4.

Oglethorpe Power is one of the nation's largest power supply cooperatives with more than $10 billion in assets, serving 38 Electric Membership Corporations which, collectively, provide electricity to approximately 4.1 million Georgia residents.

SOURCE Oglethorpe Power Corporation


These press releases may also interest you

at 12:33
Austal USA was awarded a contract modification by the U.S. Navy today to build two additional Independence-variant Littoral Combat Ships, its sixteenth and seventeenth ships in the class. The award of LCS 32 and 34 is a clear sign of the continued...

at 12:33
PIMCO Global Income Opportunities Fund (the "Fund") is pleased to announce today that it has declared a monthly distribution on its Class A Units (the "Units"). The distribution is equal to $0.05688 per Unit and will be paid on October 15, 2018 to...

at 12:30
Dickey's Barbecue Pit franchisee Mark Jones and his fiancée Laurie Zabawa plan to bring their first Dickey's location to Bozeman, Montana. "We are proud to have such experienced franchisees join the Dickey's family,"...

at 12:30
Global energy and commodity price reporting agency Argus is launching starting 19 September three new price assessments for crude delivered to northern China's Shandong province. They are the first assessments by any international price reporting...

at 12:29
Medical Facilities Corporation ("Medical Facilities" or the "Company") announced today that a cash dividend payment of Cdn$0.09375 per common share will be payable on October 15, 2018 to holders of record of common shares at the close of business on...

at 12:27
https://youtu.be/M8UkZ1pg-M8 The View from the C-Suite video interview series highlights the unique perspectives of listed companies on Toronto Stock Exchange and TSX Venture Exchange. Videos provide insight into how company executives think in the...




News published on 29 september 2017 at 12:01 and distributed by: