South Carolina Utility Seeks to Complete Nuclear Power Station
South Carolina’s largest power provider is looking to restart a partially built, abandoned nuclear site in the state—in the hopes that it will draw big-name technology companies in need of power for their data centers (The Wall Street Journal, subscription).
What’s going on: Santee Cooper said on Wednesday “it is seeking proposals for buyers to complete the project at South Carolina’s sprawling V.C. Summer Nuclear Station, according to people familiar with the matter.”
- The project in Jenkinsville, South Carolina, comprises two partially built nuclear reactors abandoned in 2017 due to rising costs.
- Santee Cooper oversaw the partial construction of V.C. Summer with then-majority owner South Carolina Electric & Gas (now Dominion Energy). It now owns 100% of the V.C. Summer plant assets.
What they’re looking for: “Santee Cooper will likely look to tap a consortium that could include a construction firm, a tech company that will use the power and an additional partner for capital, the people said. It is also looking for another power company partner because it doesn’t plan to own or operate the units once they are up and running.”
- The company hopes to recoup some of the $9 billion already spent on construction of V.C. Summer.
- The deadline to submit proposals to the utility company is May 5.
The backdrop: In September, Constellation Energy and Microsoft made a deal to restart the shuttered Three Mile Island nuclear plant in Pennsylvania, and in October, the Energy Department announced a $1.52 billion loan to restart Palisades Nuclear Generating Station in Michigan, which closed two years ago. Palisades will be the first closed nuclear reactor in the U.S. to be reopened.
- Tech giants including Amazon.com have signed deals to support nuclear projects.
- Last Friday, Santa Clara, California–based small nuclear reactor developer Oklo—which counts Energy Secretary nominee Christopher Wright among its directors—announced a partnership with electricity provider RPower. Under the agreement, Oklo will eventually power data centers with energy from its SMRs (Nuclear Engineering International).
Our view: “Nuclear power is safe, clean and abundant, and it’s a key component of the all-of-the-above energy strategy the U.S. needs to secure its place as energy leader on the world stage,” said NAM Vice President of Domestic Policy Chris Phalen. “Manufacturers support serious permitting and licensing reforms to bring new generation online to ensure American energy and manufacturing dominance for the long term.”