U.S. energy operator Santee Cooper has announced the signing of a letter of intent with Brookfield Asset Management to restart the development of two AP1000 nuclear reactors in Fairfield County, South Carolina. This agreement marks the beginning of a six-week feasibility period during which both parties will jointly conduct a technical and financial assessment of the project.
A strategic project based on private investment
Brookfield Asset Management was selected following an international bidding process launched in January 2025, which drew over 70 expressions of interest and 15 formal proposals. The goal is to complete the construction of the nuclear units without public funding or increased rates for Santee Cooper customers. The project includes appointing a project manager, evaluating construction providers and identifying potential power off-takers.
According to Santee Cooper officials, Brookfield submitted a proposal that met all industry-defined criteria, including financial capacity, risk allocation and execution feasibility. The project also benefits from the operator’s strategic decision to preserve the on-site equipment over the past eight years.
Westinghouse’s return likely to the construction site
The two unfinished reactors use the AP1000 technology developed by Westinghouse Electric Company. Brookfield, which holds a majority stake in Westinghouse, could ensure technological continuity on the project. This connection is seen as a major advantage for restarting the site, as the same technology is already operating in the United States and abroad.
Restarting construction could create thousands of temporary jobs during the building phase and several hundred permanent positions once the units are operational. Completing the two units would add approximately 2,200 MW of nuclear capacity to South Carolina’s power grid.
Securing energy supply and attracting new investments
Santee Cooper’s management stated that this nuclear capacity would help meet increasing electricity demand from residential and industrial customers. It could also enhance regional energy security, diversify the generation mix, and encourage new industrial developments in the state.
The sales and strategic assessment process was supported by Centerview Partners LLC and J.P. Morgan, serving as financial advisors. The feasibility evaluation is expected to lead to a memorandum of understanding between the two parties, paving the way for full execution of the project.
