Georgia Power and SCANA Corp. on April 28 separately announced that each had extended their “interim assessment agreements” with contractor Westinghouse Electric Co. (WEC) to keep construction progressing on two separate nuclear expansion projects, while the contractor proceeds with its bankruptcy plan.
Westinghouse Electric Co.’s recent realization of more than $6 billion in additional costs related to completing construction of two U.S. nuclear projects forced the firm to file for Chapter 11 bankruptcy protection on March 29.
Last spring, at the Plant Vogtle construction site near Waynesboro, Ga., executives representing Georgia Power, its lead contractors and trades groups gathered to commit publicly to turning around the $16-billion nuclear power-plant expansion.
Officially commemorating the 130th day under a new contracting team that is leading the $16-billion Plant Vogtle nuclear expansion project, top leaders with Georgia Power and its contractors on May 3 used the milestone to assure craft workers of their commitment to future construction gains.
The new contractors at Plant Vogtle, the nuclear powerplant project where completion cost estimates have ballooned to $16 billion, know that the eyes of the world’s construction and engineering industry, not to mention Georgia Power ratepayers, are upon them.
In a huge deal that Wall Steet analysts said posed both rewards and risks for its key participants, Chicago Bridge & Iron on Oct. 27 said it would sell its nuclear construction business in the U.S. and China to Westinhouse Electric.