The US Department of Energy, seeking to spark the first wave of new nuclear construction in the United States, is working quickly to finalize $18.5 billion in loan guarantees for four nuclear developers - who represent what many believe will be the first four projects. Utilities have filed 18 applications to construct as many as 28 new reactors across the United States, but the Nuclear Regulatory Commission is not expected to issue any construction licenses until 2010 or 2011. The loan guarantees, which have been approved and funded by Congress (with the possibility of more to come) are necessary to ensure the availability for private financing of these mammoth construction projects, which typically fall in the range of $4 to $10 billion.
 
In May, the Department of Energy selected four projects for final consideration – including the Calvert Cliffs 3 project which will eventually be constructed under a PLA that was negotiated and signed by the Building Trades and Bechtel Construction. NRG Energy, UniStar Nuclear Energy, SCANA Corp., and Southern Co. are believed to be the four finalists.