President Obama will announce loan guarantees next week for two new nuclear reactors, setting the stage for the first nuclear power plant to be built in the US in three decades. The financial commitment will be made for the construction and operation of the two new reactors at a Southern Company plant in Burke, Georgia. The two planned units, which will cost $14 billion, are due to be completed in 2016 and 2017. The loan guarantees will underscore the White House's commitment to nuclear energy as it seeks to pass comprehensive climate change legislation through Congress.
