Who’s in charge of finishing V.C. Summer nuclear reactors? Project manager coming

Two companies will partner to potentially complete the unfinished V.C. Summer nuclear reactors, state-owned utility Santee Cooper announced Monday.

A newly created company, formed by investment firm Brookfield Asset Management and South Carolina-based startup The Nuclear Company, will serve as project manager to complete the two unfinished nuclear reactors in Fairfield County. The South Carolina project could be the first for the yet-to-be-named company, but it plans to build additional nuclear reactors around the world, according to a news release.

Santee Cooper chose Brookfield Asset Management in late October to finish the two AP1000 reactors, which the state-owned utility and now defunct SCE&G walked away from in 2017 after spending $9 billion amid rising costs and delays.

If Santee Cooper and Brookfield can strike a final deal to finish the project, the utility will be paid $2.7 billion. Santee Cooper could also own up to 25% of the two new nuclear reactors at V.C. Summer once operational, including a quarter of the energy generated.

It could take up to two years for a final investment deal between the utility and Brookfield. The new company will aid with the long feasibility period and then eventually the construction process, according to the news release.

The new company could also build out additional nuclear reactor projects developed by Westinghouse, according to the news release. Westinghouse, a company involved in the original V.C. Summer construction plans, designed and sold AP1000 nuclear reactors.

Brookfield acquired Westinghouse out of bankruptcy in 2018. Westinghouse also owns a nuclear fuel plant south of Columbia and employs about 2,000 people.

This story was originally published May 4, 2026 at 9:47 AM.