South Carolina Eyes Revival of Abandoned Nuclear Reactors
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60-Second Summary
COLUMBIA, S.C. — Santee Cooper and Brookfield Asset Management announced a memorandum of understanding that would, if finalized, transfer control of the unfinished V.C. Summer reactors and provide Santee Cooper with $2.7 billion and a targeted 25% ownership stake. The agreement begins up to a two-year feasibility and negotiation period toward a Final Investment Decision, during which Brookfield would cover Santee Cooper’s bidding and negotiation costs and would retain at least 75% of plant output to sell. The V.C. Summer project was abandoned in 2017 after delays and legal fallout. Based on 6 articles reviewed and supporting research.
About this summary
This 60-second summary was prepared by the JQJO editorial team after reviewing 6 original reports from KTAR News, AP NEWS, https://www.wistv.com, https://www.wrdw.com, Post and Courier and Daily Mail Online.
Timeline of Events
- 2017: V.C. Summer reactors project halted and officially abandoned amid cost overruns.
- 2018–2024: Legal actions, settlements, and criminal prosecutions followed the collapse of the project.
- Early 2025: Brookfield Asset Management was selected as the preferred private partner to revive the site.
- Dec. 8, 2025: Parties announced a $2.7 billion memorandum of understanding to transfer control, pending approvals.
- 2026–2027: Up to two years of feasibility studies and negotiations toward a Final Investment Decision.
- Articles Published:
- 6
- Right Leaning:
- 1
- Left Leaning:
- 0
- Neutral:
- 5
- Distribution:
- Left 0%, Center 83%, Right 17%
Brookfield Asset Management stands to benefit financially and commercially by securing majority output and revenue streams from the revived V.C. Summer reactors.
South Carolina ratepayers and Santee Cooper could suffer financial, operational, and political risks if costs or liabilities escalate.
After reading and researching latest news.... The memorandum of understanding between Santee Cooper and Brookfield proposes a $2.7 billion transfer and a feasibility period leading to a Final Investment Decision; Brookfield would retain at least 75% of output while Santee Cooper would hold roughly 25% if construction resumes in Columbia.
Coverage of Story:
From Left
No left-leaning sources found for this story.
From Center
South Carolina Eyes Revival of Abandoned Nuclear Reactors
KTAR News AP NEWS https://www.wistv.com https://www.wrdw.com Post and Courier
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