ATLANTA, Sept. 26, 2018 /PRNewswire/ -- All four of the Vogtle 3 & 4 project co-owners (Georgia Power, Oglethorpe Power, MEAG Power and Dalton Utilities) have voted to continue construction of the two new nuclear units near Waynesboro, Ga.
"We are all pleased to have reached an agreement and to move forward with the construction of Vogtle Units 3 & 4 which is critical to Georgia's energy future," said the co-owners. "While there have been and will be challenges throughout this process, we remain committed to a constructive relationship with each other and are focused on reducing project risk and fulfilling our commitment to our member-consumers."
In connection with the votes to continue construction, all four of the co-owners agreed to finalize and execute definitive agreements which helps mitigate financial exposure for each of them. The details are contained in each company's 8-K.
The new units are the first to be built in the United States in more than 30 years and the only new nuclear units currently under construction in America. Expected on-line in November 2021 (Unit 3) and November 2022 (Unit 4), the new units are expected to generate enough emission-free electricity to power approximately 500,000 homes and businesses.
Today, Vogtle 3 & 4 is the largest jobs-producing construction project in the state of Georgia, employing more than 7,000 workers from across the country, with more than 800 permanent jobs available once the units begin operating. Progress and productivity continue to improve, illustrated by multiple recent achievements such as the placement of the first steam generator and both accumulators – a key component of the AP1000 reactor safety system – inside the Unit 4 containment vessel.
Additionally, an AP1000 unit in China reached its final technical milestone last week, which will allow the unit to enter commercial operations. Three more AP1000 units are in full testing and will reach commercial operation soon.
About Oglethorpe Power
Oglethorpe Power is one of the nation's largest power supply cooperatives with approximately $11 billion in assets serving 38 Electric Membership Corporations which, collectively, provide electricity to approximately 4.1 million Georgia residents. A proponent of conscientious energy development and use, Oglethorpe Power balances reliable and affordable energy with environmental responsibility and has an outstanding record of regulatory compliance. Its diverse energy portfolio includes natural gas, hydroelectric, coal and nuclear generating plants with a combined capacity of approximately 7,800 megawatts. Oglethorpe Power was established in 1974 and is owned by its 38 Member Systems. Its headquarters are in Tucker, Georgia, an Atlanta suburb.
SOURCE Oglethorpe Power