Trump throws billion-dollar lifeline to struggling nuclear power plant
The Energy Department announced conditional loan guarantee commitments today for up to $3.7 billion to help a pair of financially struggling nuclear power reactors under construction in Georgia. The reactors, run by Southern Company with other corporate partners, have already received $8.3 billion in such loans from the Obama administration.
Bigger picture: This move would help the companies behind the project, but the broader nuclear energy industry is still facing broader challenges, like cheap natural gas and concerns about radioactive waste, that will make it hard for the sector to keep growing. The high cost and protracted process it's taking to get this project across the finish line could also scare away investors.