New Projects, Nuclear, Reactors

Gov’t to back 80 percent of nuclear plant cost

5 October 2007 — The Energy Department will guarantee loans for up to 80 percent of the total construction cost of new nuclear power plant reactors, according to the Associated Press. Because of budget constraints, however, the earliest any company proposing to build a new nuclear power reactor could benefit is 2009.

Previously, the Energy Department would have only guaranteed loans for about two thirds of total construction costs of new nuclear reactors and other projects.

At a nuclear power conference, Energy Secretary Samuel Bodman said he would seek “substantial increases” in the 2009 federal budget for loan guarantees; enough to provide support for seven to eight nuclear plants.