Georgia nuclear power plant could be Solyndra redux, report says
Construction of the first newly licensednuclear power plant in decades could become a " -like" debacle thanks to billions in federal loan guarantees whose terms appear too weak to protect taxpayers, according to one group’s analysis of internal documents released by the .
The two-reactor $14 billion Vogtle plant being built inis seen as a test of the US nuclear industry's planned "renaissance" with a new nuclear reactor design and updated construction processes all aimed at cutting time and costs.
But two-based energy-consulting firms, Earth Track and Synapse Energy Economics, say the $8.3 billion in federal loan guarantees backing the project were crafted with excessively favorable financial terms for the recipient companies, weak federal oversight, and possible political interference in the loan-guarantee process.
The two firms analyzed hundreds of Energy Department e-mails and financial documents released earlier this month to the Southern Alliance for Clean Energy (SACE), a green-energy watchdog group that won access to them in alawsuit.
Officials for theand , the company that will operate the plants, say there's nothing improper going on.