Obama: $8.3 billion to build first nuclear plant in 3 Decades

February 18th, 2010 §

US to Build 1st Nuclear Plant Since the 70s
Obama just gave a speech on clean energy after touring a clean jobs training facility in Lanham, MD. In the speech, he made the announcement that his administration has approved an $8.3 billion loan guarantee to build the first nuclear power plant in the US in three decades.
The last two power plants to be built in the US were the Watts Bar plant, which began construction in 1973, was completed in 1990, and didn’t begin commercial operation until 1996, and the River Bend plant, which was built in 1977 and went online in 1986.
The loan guarantee for the new project is to be taken out of the $54 billion Obama set aside for nuclear loan guarantees in his 2010 budget–and it leaves $46 billion more to be allocated to other nuclear projects.