Oglepthorpe Power Corp. (OPC) expects to allocate all proceeds to refinancing expenditures related to the Vogtle Unit 3 and 4 nuclear power plants. These assets will provide clean, baseload power to Georgia’s electrical grid, which currently produces a significant portion of electricity from coal and natural gas. Incorporated in 1974 and based in Tucker, Ga., OPC operates as an electric cooperative in the U.S. The company is owned by and offers wholesale electric power primarily to 38 electric membership corporations (EMCs), which are entitled to purchase power for local distribution. These members are local, consumer-owned distribution cooperatives that provide retail electric service on a not-for-profit basis to residential, commercial, and industrial consumers. Through the network of these EMCs, OPC provides electricity to about 4.5 million residents throughout the state of Georgia. OPC owns assets worth more than $16 billion (2023).