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US DOE announces $26.5bn loan for Southern Company in Georgia and Alabama to support more than 16GW of power capacity
The US Department of Energy (DOE) has finalized a $26.5 billion loan to Southern Company’s subsidiaries, Georgia Power and Alabama Power, marking the largest loan package in the DOE’s history. This funding will support the development and upgrade of over 16GW of power capacity, including new gas generation, nuclear uprates, hydropower modernization, and transmission projects, across both states. The investment aims to enhance grid reliability and resilience, reduce energy costs, and accommodate significant data center growth in the region, with Southern Company projecting substantial contracted load growth for 2026.