Southern Co. will take over for bankrupt Westinghouse Electric Co. to finish its nuclear project in Georgia, according to an agreement struck late Friday night. Southern’s nuclear unit and Georgia Power Co. subsidiary will become the main contractor for the Plant Vogtle expansion project, which is being built with Westinghouse’s AP1000 technology. Westinghouse filed for Chapter 11 bankruptcy protection in March because of significant financial pressures from Vogtle and a nuclear project in South Carolina. Georgia Power and Scana Corp.’s South Carolina Electric & Gas Co. temporarily took over as the main contractors for their projects as part of an interim arrangement to keep them afloat. SCE&G and Westinghouse extended their agreement for 60 days when the first arrangement expired two weeks ago. Georgia Power and Westinghouse did the same, but the companies set a new termination date of last Friday. The company released an announcement at 11 that evening. The agreement is in principle and hinges on Westinghouse rejecting its original engineering, procurement and construction contract in bankruptcy court. The mega-contractor has signaled to Southern that it plans to do so, Southern’s CEO told analysts recently.
E&E News 15th May 2017 read more »
Georgia Power has agreed to take over management of construction of its Vogtle nuclear plant expansion project and keep work going there for at least three weeks, but has still not decided whether to complete the two 1,050-MW reactors under construction at the site, the utility said.
Platts 15th May 2017 read more »