Georgia Power and Southern Nuclear will assume project management of the Vogtle nuclear expansion from Westinghouse by late July as per the new service agreement finalised earlier this month.
The agreement has continued to advance through the approval process and will become effective with the receipt of all necessary approvals, including approval of the bankruptcy court and rejection of the current engineering, procurement and construction contract by Westinghouse.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The deal's scope covers engineering, procurement and licensing support from Westinghouse, in addition to access to Westinghouse intellectual property required for the project.
In order to enable time for all approvals, the interim assessment agreement has been extended through July 20.
The recently announced agreement between Georgia Power and Toshiba, which is the parent company of Westinghouse, will remain in place and continue to affirm the value of Toshiba's guarantee at $3.68bn.
The first payment of $300m from Toshiba under the agreement is expected in October.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataGeorgia Power has also continued to work with the project's co-owners (Oglethorpe Power, MEAG Power, and Dalton Utilities) to complete a full-scale schedule and cost-to-complete analysis, and will work with the Georgia Public Service Commission.
Image: Vogtle 3 and 4 construction site, with Units 3 and 4 in the foreground, and operating units 1 and 2 in the background. Photo: courtesy of Georgia Power Company.
