Sutherland Counsels Oglethorpe Power Corporation on $3.057 Billion DOE Guaranteed Loan for Nuclear Generation
ATLANTA--(BUSINESS WIRE)--Sutherland Asbill and Brennan LLP counseled Oglethorpe Power Corporation in negotiating, and closing on February 20, 2014, a $3.057 billion Department of Energy guaranteed loan to finance a portion of Oglethorpe Power’s share of the costs of construction of the two new Westinghouse AP1000® nuclear electric generating units at Plant Vogtle in Burke County, Georgia. Oglethorpe Power owns 30% of the two new units, representing approximately 660MW of capacity. The Plant Vogtle project is the first nuclear generating project to receive support through the Department of Energy’s Innovative Technologies loan guarantee program.
The Sutherland team representing Oglethorpe was led by Dorothy B. Franzoni and included Peter A. Fozzard, Herbert J. Short, Jr., Michael G. Kerman, Paulettte J. Hurteau, Jackson M. Allen and Will Pickens.
Oglethorpe is one of the nation's largest power supply cooperatives, with $9 billion in assets, serving 38 Electric Membership Corporations which, collectively, provide electricity to more than 4.1 million Georgians.
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