North Carolina Construction News staff writer
The Santee Cooper Board of Directors approved a letter of intent with Brookfield Asset Management on Wednesday to enter exclusive negotiations to complete two partially built AP1000 nuclear units in Fairfield County.
Completion of the two units could generate thousands of temporary construction jobs.
The letter of intent establishes a six-week feasibility period during which the parties will select a project manager, evaluate construction providers, and hold advanced discussions with potential buyers of the nuclear power generated by the units. The process will also include additional due diligence leading to a potential Memorandum of Understanding.
“Brookfield came to Santee Cooper with a proposal that sets out the path to turn our prior nuclear investment into lasting value for our customers and all South Carolinians,” said Santee Cooper Board Chairman Peter McCoy. “Our goals include completing these reactors with private money and no ratepayer or taxpayer expense, delivering financial relief to our customers and gaining significant additional power capacity for South Carolina. Brookfield’s proposal would do just that, and the company has the financial capability to stand behind its proposal.”
Santee Cooper President and CEO Jimmy Staton thanked Governor Henry McMaster and members of the South Carolina General Assembly for encouraging the utility to conduct a competitive bidding process. “Our goal remains the same: to enable completion of these two units and provide 2,200 megawatts of carbon-free, reliable nuclear power that delivers energy security for South Carolina and specific benefits to Santee Cooper customers,” Staton said.
Staton noted that maintaining the equipment over the past eight years positions the Fairfield units for a faster and less costly path to completion. The reactors use the Westinghouse AP1000 technology, which is already operating in Georgia and overseas. “Brookfield is a majority owner of Westinghouse, which added to their proposal,” he said.
The project could generate thousands of temporary construction jobs and hundreds of permanent operational positions, while strengthening South Carolina’s energy portfolio, enhancing grid reliability, and attracting new industries to the state.
Santee Cooper began the competitive bidding process in January 2025, receiving expressions of interest from more than 70 potential bidders and 15 formal proposals. Industry experts helped the utility develop financial, risk, and execution criteria to evaluate the final proposals.