Santee Cooper Invites Proposals for Nuclear Project Completion

Santee Cooper's Call for Nuclear Project Proposals

Santee Cooper has taken significant steps to seek proposals regarding the acquisition and completion of two incomplete generating units at the V.C. Summer Nuclear Station. This move is a response to a noticeable rise in national enthusiasm for new nuclear energy as a viable solution to the escalating demand for electricity.

Engaging Professionals to Manage the RFP

In this endeavor, Santee Cooper has enlisted the expertise of Centerview Partners LLC to facilitate a comprehensive Request for Proposal (RFP) process. This RFP is pivotal in identifying potential parties interested in either acquiring the project or completing one or both of the generating units. Moreover, the process will explore alternative applications for these valuable assets. Interested parties are encouraged to respond by May 5, 2025.

Leadership Insights on Nuclear Energy

Santee Cooper's President and CEO, Jimmy Staton, provided insights into the growing interest in nuclear energy. He highlighted how advancements in manufacturing, the soaring demand for AI-driven data centers, and the tech sector's commitment to zero-carbon goals are driving this shift. He emphasized an exceptional opportunity for Santee Cooper to evaluate possibilities concerning the Summer Units 2 and 3 and their associated assets, which could expedite the generation of reliable and carbon-free electricity.

Benefits for Customers and the State

Staton further indicated that while Santee Cooper does not intend to take ownership or responsibility for these units, the RFP is a chance to pinpoint an entity that could effectively utilize these resources. This initiative aims to provide tangible benefits to customers, stimulate economic growth, and create value for the residents of South Carolina.

Factors Influencing the Decision

The decision to initiate the RFP was shaped by multiple factors, notably the rising necessity for new energy generation due to fast-tracked growth in data center development, the onshoring of advanced manufacturing, and the retiring of fossil fuel units. Additionally, there is a robust national interest in revitalizing previously stalled or canceled nuclear projects to accelerate timelines.

The Unique Position of the V.C. Summer Project

The V.C. Summer project stands out as the only facility in the U.S. capable of delivering a significant 2,200 MWs of nuclear capacity promptly. The project employs the AP1000 technology, similar to that used by Southern Company for their Plant Vogtle Units 3 and 4, which were brought online in 2023 and 2024. Situated within the enhanced security area of the V.C. Summer station, the project benefits from ample land, a reliable water supply, and upgraded transmission infrastructure designed to handle output from the units.

Historical Context of the Project

The original construction of Units 2 and 3 was halted in July 2017 after encountering extensive delays and facing bankruptcy issues from the contractor involved. The majority stakeholder, SCE&G (now operated by Dominion Energy), ultimately abandoned the project, transferring their interests to Santee Cooper in 2018.

Frequently Asked Questions

What is the purpose of Santee Cooper's RFP process?

The RFP process aims to find parties interested in acquiring and possibly completing the partially constructed nuclear units, as well as exploring alternative uses for the assets.

Why is there renewed interest in nuclear energy?

The renewed interest is driven by advanced manufacturing, AI technology demands, and zero-carbon goals from tech companies.

What does Santee Cooper intend to achieve with the proposals?

Santee Cooper seeks to identify a viable entity to complete the project, helping to generate reliable, carbon-free electricity and support economic growth in South Carolina.

How does the V.C. Summer project differ from others?

The V.C. Summer project is distinctive as it has the potential to deliver 2,200 MWs of nuclear capacity on an accelerated timeline, thanks to its unique AP1000 technology.

What historical factors led to the halt of the project?

The construction was paused due to considerable delays and the bankruptcy of the contractor, coupled with the decision by the majority owner to abandon the project and transfer assets to Santee Cooper.

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