Santee Cooper Enters Six-Week Talks With Brookfield on Private Restart of V.C. Summer Reactors

Overview

• Santee Cooper’s board approved a letter of intent and a six-week negotiation period with Brookfield Asset Management to evaluate resuming work on two AP1000 units at the V.C. Summer site.
• The feasibility window includes selecting a project manager, vetting construction providers, and lining up prospective buyers for potential nuclear output.
• Santee Cooper said Brookfield preliminarily agreed to supply the utility with some power, while retaining the option to sell most generation to other customers such as data centers.
• Brookfield controls assets of Westinghouse Electric Co., whose bankruptcy contributed to the 2017 shutdown after more than $9 billion was spent without producing electricity.
• Watchdogs warn of major hurdles including equipment degradation after years in the elements and the need to renew permits and operating licenses, even as utility officials cite strong market interest and policy support after 70 bidders and 15 formal proposals.