US Loans $26.5 Billion to Southern Co. for Power Projects

The Trump administration on Wednesday closed a $26.5 billion loan package for Southern Co. power projects in Georgia and Alabama amid rising concern about electricity price affordability and electricity-thirsty data centers.

The Energy Department said the financing — $22.4 billion to Georgia Power and about $4.1 billion to Alabama Power — represents the largest largest loan in the agency’s history, and is aimed at directly lowering consumer electricity costs and increasing grid reliability.