President Obama announced today the availability of $18.5 billion in loan guarantees set aside by Congress in 2005 for the construction of nuclear power plants and not used until today.  Two companies have applied for loan guarantees to build plants in Burke, Georgia, constructed by the company Georgia Power, and the President has decided to move forward with the loan program. 

The plants won't come online until 2017 at the earliest, but they are expected to create at least 3,000 construction jobs, 850 permanent jobs at the facilities, and provide power for 1.4 million customers.

UPDATE: Watch the President's remarks below: