VIDEO: DOE issues solicitation for $12.5 billion nuclear loan guarantee

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The Department of Energy said Dec. 10 that it has issued a solicitation for up to $12.5 billion in federal energy loan guarantee money to support advanced nuclear energy projects.

The first deadline for Part 1 applications is March 18, 2015. That deadline will be followed by rolling deadlines about every six months, according to GenerationHub.

The effort would support construction of nuclear power projects that reduce or avoid greenhouse gas emissions, according to a DOE news release.

DOE has identified several key areas of interest in the proposal. They include: Small modular reactors or SMRs, uprates and upgrades at existing facilities, and front-end nuclear projects.

Energy Secretary Ernest Moniz announced the measure and touted it as part of the Obama administration's "all-of-the-above" energy strategy.

Southern Co. unit Georgia Power and its partners are using a federal loan guarantee to help underwrite the costs of the Vogtle 3 and 4 project in Georgia. However, SCANA is not using a federal loan guarantee in its development of V.C. Summer Units 2 and 3 in South Carolina. NuScale Power has also received a DOE loan guarantee to help commercialize its 50-MW SMR technology.

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