On October 25, 2025, the Santee Cooper Board of Directors approved a letter of intent with Brookfield Asset Management to proceed with the two partially built AP1000 nuclear units in Fairfield County, South Carolina. The letter establishes a six‑week feasibility period during which the parties will jointly select a project manager, evaluate construction providers, and conduct due diligence.
Brookfield’s proposal aims to complete the units with private capital, avoiding ratepayer or taxpayer expense, and deliver 2,200 MW of carbon‑free power to South Carolina. The project would provide significant energy security and financial relief for Santee Cooper customers.
Brookfield is majority owner of Westinghouse, the designer of the AP1000 technology used in the units. The partnership leverages Brookfield’s nuclear expertise and existing portfolio of AP1000 plants in Georgia and overseas, positioning the company to accelerate the project and expand its nuclear asset base.
The letter of intent follows a competitive bidding process launched in January 2025 that attracted over 70 expressions of interest and 15 formal proposals. The six‑week feasibility window will also allow discussions with potential buyers of the nuclear‑generated power and set the stage for a Memorandum of Understanding.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.