Nuclear plant loan guarantee apps received

WASHINGTON, Oct. 2 (UPI) -- The U.S. Department of Energy says it has received 19 Part I applications from 17 electric power companies for nuclear plant construction loan guarantees.

The federal loan guarantees would support the construction of 14 nuclear power plants in the United States. The department said the applications, submitted in response to a June 30 solicitation, reflect the intentions of the companies to build 21 new reactors, with some applications covering two reactors at the same site.

The plants would mark the first new nuclear power plants to be constructed in the U.S. in more than 20 years. The industry is asking the Energy Department to provide loan guarantees in the amount of $122 billion, significantly exceeding the $18.5 billion in loan guarantees available under the June 30 Nuclear Power Facilities solicitation.

The Energy Department said said the aggregate estimated construction cost of the 14 projects is $188 billion. If all projects are constructed, they would add 28,800 megawatts of emissions-free, base load electric generating capacity.

The loan guarantee program is designed to facilitate early commercial use of new or significantly improved technologies in energy related projects.