US Closes Record $26.5 Billion Loan to Back Southern Co. Grid Projects

The funds will support more than 16 gigawatts of generation and grid upgrades.Energy Secretary Chris Wright in the Oval Office of the White House. Anna Moneymaker/Getty Images2/25/2026|Updated: 2/25/2026The Energy Department stated on Feb. 25 that it had closed a record $26.5 billion loan package to support power generation and grid projects in Georgia and Alabama, in what officials described as the largest loan in the department’s history.The financing is expected to deliver more than $7 billion in electricity cost savings to millions of customers served by subsidiaries of Southern Co., according to a statement from the department.