ATLANTA, March 22, 2019 /PRNewswire/ -- U.S. Energy
Secretary Rick Perry, Georgia
Governor Brian Kemp, U.S.
Agriculture Secretary Sonny Perdue
and North America's Building
Trades Unions President Sean
McGarvey joined Southern Company Chairman, President and CEO
Tom Fanning, Georgia Power Chairman,
President and CEO Paul Bowers and
hundreds of workers and special guests at the Vogtle 3 & 4
nuclear expansion project today near Waynesboro, Georgia, to announce the closing
of approximately $1.67 billion in
additional Department of Energy (DOE) loan guarantees for the new
Vogtle units.
In addition, Georgia Public Service Commissioners Lauren "Bubba"
McDonald, Tim Echols, Chuck Eaton, Tricia
Pridemore and Jason Shaw were
also in attendance, along with U.S. Representatives Rick Allen and Buddy
Carter, and Vogtle 3 & 4 co-owners: Oglethorpe Power
President and CEO Mike Smith, MEAG
Power President and CEO Jim Fuller
and Dalton Utilities CEO Tom
Bundros.
"The Vogtle project is critically important to supporting the
Administration's direction to revitalize and expand the U.S.
nuclear industry," said Secretary Perry. "A strong nuclear industry
supports a reliable and resilient grid, and strengthens our energy
and national security. As I've witnessed firsthand today, Vogtle is
also an energy infrastructure project with a massive scope
employing thousands of workers. This project is rebuilding a highly
skilled U.S. nuclear workforce and supply chain for the
future."
Georgia Power had previously secured loan guarantees of
$3.46 billion for the construction of
the new units, the first to be built in the United States in more than 30 years.
"Since the project began, we have committed to minimize the
impact these new units will have on customers' bills, and securing
these loans plays a key role by reducing our financing costs and
passing along those benefits to our customers," said Bowers. "We
thank the administration, DOE, Secretary Rick Perry and members of Congress for their
continued support of the Vogtle 3 & 4 project."
Secretary Perry also witnessed one of the most important
milestones for the project to date – the placement of the top of
the containment vessel for Unit 3, signifying that all modules and
large components have been placed inside the unit.
"The progress we are marking today is a direct result of the
tremendous support the project has received," said Fanning. "From
the very beginning, public and private partners have stood with us
as we endeavor to build the first new nuclear development in the
U.S. in a generation. Everyone involved in the project remains
focused on sustaining our momentum and is poised to execute on the
important work to come in the days ahead."
"We have made significant progress since taking over
construction at the site and expect that momentum to continue this
year," said Bowers. "Placement of the Unit 3 top head is a historic
milestone for the project, reflecting the hard work and dedication
of the Vogtle 3 & 4 team as we transition these units closer to
operation."
The containment vessel is a high-integrity steel structure that
houses critical plant components. The top head is 130 feet in
diameter, 37 feet tall, and weighs nearly 1.5 million pounds, more
than two fully loaded jumbo jets. It's comprised of 58 large
plates, welded together, each more than an inch and a half
thick.
Georgia Power owns 45.7 percent of the new units, with the
project's other co-owners including Oglethorpe Power, MEAG Power
and Dalton Utilities.
Progress and Productivity
With more than 7,000 workers currently onsite and more than 800
permanent jobs available once the units begin operating, Vogtle 3
& 4 is currently the largest jobs-producing construction
project in the state of Georgia.
Recruiting efforts continue to attract additional craft workers to
the Vogtle 3 & 4 project, with more than 700 pipefitters,
electricians and other craft labor joining the project since
Nov. 1.
Significant progress continues at the site, with the project now
approximately 75 percent complete. Several significant milestones
have been achieved in recent months including:
- More than 23,000 cubic yards of concrete was placed
in 2018, and nearly 600,000 cubic yards for the project to
date, enough to build a sidewalk from Miami to Seattle. In addition, more than 16,200 yards,
or nine miles, of piping was installed in 2018 alone.
- The Unit 4 pressurizer, which will provide pressure control
inside the reactor coolant system once the unit begins operating,
was placed inside the containment vessel in February.
- The integrated head package (IHP) was set inside the Unit 3
containment vessel in late January. The IHP, weighing 475,000
pounds and standing 48-feet tall, combines several separate
components in one assembly and allows the rapid removal of the
reactor vessel head during a refueling outage.
- Progress also continues on the Unit 3 shield building, with
additional double-decker panels placed in January. A total of
eight six-panel sections have been placed, with each one measuring
20 feet tall and 114 feet wide, and weighing up to 300,000 pounds.
To date, more than half of the shield building panels have been
placed for Unit 3. The shield building panels, fabricated in
Newport News, Va., provide
structural support to the containment cooling water supply and
protect the containment vessel, which houses the reactor vessel and
associated equipment.
Follow the progress being made at the site with new photos and
video available at: Plant Vogtle 3 & 4 Online Photo
Gallery.
About Georgia Power
Georgia Power is the largest
electric subsidiary of Southern Company (NYSE: SO), America's
premier energy company. Value, Reliability, Customer Service and
Stewardship are the cornerstones of the company's promise to 2.6
million customers in all but four of Georgia's 159 counties. Committed to
delivering clean, safe, reliable and affordable energy at rates
below the national average, Georgia Power maintains a diverse,
innovative generation mix that includes nuclear, coal and natural
gas, as well as renewables such as solar, hydroelectric and wind.
Georgia Power focuses on delivering world-class service to its
customers every day and the company is consistently recognized by
J.D. Power and Associates as an industry leader in customer
satisfaction. For more information, visit
www.GeorgiaPower.com and connect with the company on Facebook
(Facebook.com/GeorgiaPower), Twitter (Twitter.com/GeorgiaPower) and
Instagram (Instagram.com/ga_power).
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this communication is
forward-looking information based on current expectations and plans
that involve risks and uncertainties. Forward-looking information
includes, among other things, statements concerning expected
construction progress at Plant Vogtle Units 3 and 4 and the
expected benefit of the additional DOE loan guarantees. Georgia
Power cautions that there are certain factors that could cause
actual results to differ materially from the forward-looking
information that has been provided. The reader is cautioned not to
put undue reliance on this forward-looking information, which is
not a guarantee of future performance and is subject to a number of
uncertainties and other factors, many of which are outside the
control of Georgia Power; accordingly, there can be no assurance
that such suggested results will be realized. The following
factors, in addition to those discussed in Georgia Power's Annual Report on Form 10-K for
the year ended December 31, 2018, and
subsequent securities filings, could cause actual results to differ
materially from management expectations as suggested by such
forward-looking information: the impact of recent and future
federal and state regulatory changes, as well as changes in
application of existing laws and regulations; current and future
litigation or regulatory investigations, proceedings, or inquiries;
available sources and costs of natural gas and other fuels; effects
of inflation; the ability to control costs and avoid cost and
schedule overruns during the development, construction and
operation of facilities, including Plant Vogtle Units 3 and 4 which
includes components based on new technology that only recently
began initial operation in the global nuclear industry at this
scale, including changes in labor costs, availability, and
productivity; challenges with management of contractors,
subcontractors, or vendors; adverse weather conditions; shortages,
increased costs, or inconsistent quality of equipment, materials,
and labor; contractor or supplier delay; non-performance under
construction, operating, or other agreements; operational
readiness, including specialized operator training and required
site safety programs; engineering or design problems; design and
other licensing-based compliance matters, including the timely
resolution of Inspections, Tests, Analyses, and Acceptance Criteria
and the related approvals by the U.S. Nuclear Regulatory Commission
(NRC); challenges with start-up activities, including major
equipment failure and system integration; and/or operational
performance; the ability to construct facilities in accordance with
the requirements of permits and licenses (including satisfaction of
NRC requirements), to satisfy any environmental performance
standards and the requirements of tax credits and other incentives,
and to integrate facilities into the Southern Company system upon
completion of construction; advances in technology; state and
federal rate regulations and the impact of pending and future rate
cases and negotiations; legal proceedings and regulatory approvals
and actions related to Plant Vogtle Units 3 and 4, including
Georgia Public Service Commission approvals and NRC actions; under
certain specified circumstances, a decision by holders of more than
10% of the ownership interests of Plant Vogtle Units 3 and 4 not to
proceed with construction and the ability of other co-owners to
tender a portion of their ownership interests to Georgia Power
following certain construction cost increases; in the event Georgia
Power becomes obligated to provide funding to Municipal Electric
Authority of Georgia (MEAG) with
respect to the portion of MEAG's ownership interest in Plant Vogtle
Units 3 and 4 involving Jacksonville Electric Authority, any
inability of Georgia Power to receive repayment of such funding;
the inherent risks involved in operating and constructing nuclear
generating facilities; interest rate fluctuations and financial
market conditions and the results of financing efforts; changes in
The Southern Company's or Georgia Power's credit ratings; and the
effect of accounting pronouncements issued periodically by standard
setting bodies. Georgia Power expressly disclaims any obligation to
update any forward-looking information.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/georgia-power-doe-finalize-1-67-billion-loan-guarantee-for-new-vogtle-units-300817052.html
SOURCE Georgia Power