Brookfield in Exclusive Talks to Restart VC Summer Reactors

South Carolina utility Santee Cooper is in exclusive talks with Brookfield Asset Management to revive the two partially built reactors at the V.C. Summer site that were abandoned in 2017 after about $9 billion was spent, with the deal expected to be worth billions. Santee Cooper’s board has authorized a letter of intent and exclusive negotiations, and management, led by CEO Jimmy Staton, says the proposal would shift construction risk from customers to private builders as part of a broader push to restart U.S. nuclear projects despite past delays and cost overruns. Renewed interest is being driven by surging demand for clean, high-capacity, around-the-clock power from AI-driven data centers and other load growth. Brookfield and Santee Cooper must secure a new construction partner and conduct at least a year of due diligence before work could resume. Neither party has publicly commented on final terms.