South Carolina Eyes Revival of Abandoned Nuclear Reactors
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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.
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Timeline
- 1. 2017: V.C. Summer reactors project halted and officially abandoned amid cost overruns.
- 2. 2018–2024: Legal actions, settlements, and criminal prosecutions followed the collapse of the project.
- 3. Early 2025: Brookfield Asset Management was selected as the preferred private partner to revive the site.
- 4. Dec. 8, 2025: Parties announced a $2.7 billion memorandum of understanding to transfer control, pending approvals.
- 5. 2026–2027: Up to two years of feasibility studies and negotiations toward a Final Investment Decision.
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JQJO Editorial Desk · Human reviewed · AI assisted. Report a correction.
