Brookfield, a global investment firm, and The Nuclear Company, a nuclear project development and delivery company, announced a partnership to form a new company specializing in the development of Westinghouse nuclear reactor technology. Brookfield's global asset management and energy infrastructure development capabilities combined with The Nuclear Company's nuclear project delivery expertise will serve as the foundation for the dedicated project development company. The business will offer execution capabilities for the deployment of nuclear projects based exclusively on Westinghouse reactor technology, including AP1000 and AP300, in addition to end-to-end project management, licensing support, and oversight of engineering, procurement, construction and commissioning activity.
The parties expect to progress toward definitive documentation in the coming months, subject to customary approvals and conditions. As part of efforts to potentially develop two partially constructed AP1000 units near Jenkinsville, S.C., Brookfield has selected the new company as the project manager for the Fairfield County, S.C., nuclear project, formally known as V.C. Summer Nuclear Units 2 and 3. Santee Cooper, South Carolina's state-owned utility company, supports the company's role on the project. The new company will support due diligence activity for the Project and oversee the delivery should it move forward to Final Investment Decision.
Development of the project remains subject to further evaluation, regulatory approvals, and the execution of definitive agreements.
