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 06:30
NEW YORK, October 20, 2017 /PRNewswire/ -- If you want a Stock Review on AREX, XEC, MRO, or MTDR then come over to http://dailystocktracker.com/register/ and sign up for your free customized report. Pre-market, DailyStockTracker.com scans the...

at 06:30
NOVI, Mich., Oct. 20, 2017 /PRNewswire/ -- ITC Holdings Corp. (ITC) today announced it has appointed A. Douglas Rothwell to its board of directors, effective Oct. 20, 2017. Doug Rothwell has worked as an executive in the...

at 01:00
- Landis+Gyr and British Gas achieve major milestone with first 'next generation' UK smart meter installation - Using the latest technology, the smart meters enable seamless switching between suppliers LONDON, Oct. 20, 2017 /PRNewswire/...

19 oct 2017
OCEAN VIEW, Del., Oct. 19, 2017 /PRNewswire-iReach/ -- Industrial Floor Coatings Market is expected to witness strong application potential in the food and beverage processing industry. While working in the food processing industry, it is quite...

19 oct 2017
BOGOTA, Colombia, Oct. 19, 2017 /CNW/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that as of today it has terminated the program for the disposal of Ecopetrol's shareholder interest in the EEB, which was approved by the national government...

19 oct 2017
TSX: SHLE CALGARY, Oct. 19, 2017 /CNW/ - Source Energy Services Ltd. (the "Company" or "Source") is pleased to announce that its third quarter financial results will be released prior to the Toronto Stock Exchange market open on November 13, 2017....

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