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Usec joins loan guarantee bidders
19 June 2007
[Usec, Reuters 15 June] Companies hoping to buildnuclear power plants in the USA have asked the Department of Energy to increase theportion of government-guaranteed project loans to 100% from 90%originally proposed in the Energy Policy Act 2005. The final figureshould be decided late this year. Some $9 billion could be available toguarantee up to 90% of a project's debt, as long as that debt does notexceed 80% of the total project cost. The measure is meant to encourageinvestment in new low-carbon power generation projects. However, Usec,a uranium enrichment company, has put forward its American Centrifugeplant as a possible 'pilot' loan guarantee project. "In addition tohelping Usec fund the plant's construction, the experience gained couldassist utilities later who apply for loan guarantees," said UsecPresident and CEO John Welch.

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WNN: Guarantees for $9 billion in clean-energy loans