The US Department of Energy (DOE) has closed a loan package of USD26.5bn to support two wholly owned subsidiaries of Southern Company, namely Georgia Power and Alabama Power (US DOE press release, 25/02/2026).
The package is composed of two loans to build or upgrade over 16 GW of power capacity to the grid, including 5 GW of gas, 6 GW of upgraded nuclear facilities, modernised hydro capacities, BESS, and 1,300 miles (almost 2,100 km) of power transmission and grid enhancement projects to increase grid reliability in Georgia and Alabama.
The loans were funded under the Working Families Tax Cut and are expected to reduce Southern Company’s interest expenses by over USD300m per year, saving up to USD7bn in electricity cost savings to customers in the US states of Georgia and Alabama.
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