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Oglethorpe Power Announces Selection of Kiewit Subsidiary as EPC Partner for New 1,425-MW Combined-cycle Facility in Georgia

LCG, January 13, 2026--Oglethorpe Power today announced it has selected Kiewit Corporation through its subsidiary, The Industrial Company (TIC), as the Engineering, Procurement and Construction (EPC) partner for its new combined-cycle (CC), natural gas-fired power plant in Monroe County, Georgia. The new, 1,425-MW facility represents a capital investment of more than $3 billion. Commercial operation of the new generation capacity is planned to commence in 2029.

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Meta Announces Up to 6.6 GW of Nuclear Projects to Power American AI

LCG, January 9, 2026--Meta today announced new, landmark agreements that will (i) extend and expand the operation of three existing nuclear power plants and (ii) drive the development of advanced nuclear technology. Meta's new agreements with Vistra, TerraPower, and Oklo follow Meta's request for proposals (RFP) issued last month. Meta expects these projects to deliver up to 6.6 GW of new and existing clean nuclear energy by 2035.

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Industry News

Allegheny Stock Plummets after Company Defaults

LCG, October 8, 2002-Energy company Allegheny saw its stock price drop by over fifty percent after it neglected to give an additional $60 million in collateral.

When Moody's Investors Service withdrew the company's investment-grade credit rating, banks demanded that Allegheny post supplementary collateral to trading counterparties. Allegheny may possibly offer up assets as collateral, although this practice may be legally questionable because of state regulatory agencies' policies, and banks may find energy assets unworthy because of the current state of the electricity market.

The company has not referred to specific figures but maintains that it has sufficient funds to operate. Allegheny is currently discussing the possibility of waivers and additional funding with its creditors in order to avoid seeking bankruptcy protection.

Some energy traders have bought back electricity that was sold to Allegheny in order to resell it to more credit-worthy buyers.

Shares hit a 52-week low of $3.25 and are trading at $4.15 on volume of 10.9 million shares, as compared with a daily average volume of 2.4 million and a 200-day stock price average of $30.19.

Meanwhile, the company has been pursued by those interested in a takeover; Virginia-based Dominion Resources presented two takeover offers this year, the latest being $22 to $24 per share in an all-stock agreement, but Allegheny refused. Constellation Energy Group has also expressed interest in a takeover.

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