Toshiba said it would provide a $3.68 billion financial guarantee for the development of two new nuclear reactors in Georgia, as part of a settlement agreement with the owners of the project announced on Friday.
The Vogtle nuclear reactors near Waynesboro, Georgia have been beleaguered by cost overruns and scheduling delays since construction began several years ago. The Vogtle project is co-owned by Georgia Power, a utility subsidiary of the Atlanta-based Southern Company, Oglethorpe Power, MEAG Power and Dalton Utilities.