Santee Cooper Seeks Buyers to Revive VC Summer Nuclear Project

News Summary

Santee Cooper is actively pursuing buyers to potentially revive the stalled VC Summer Nuclear Project in Jenkinsville, South Carolina. Initially halted in 2017, the project left local customers facing nearly $9 billion in construction costs. With a resurgence of interest in nuclear power driven by increased energy demands, Santee Cooper’s initiative aims to leverage the unfinished reactors amidst favorable legislative support and tax incentives. Despite the challenges, there are no technical hurdles hindering the project, presenting a potential turnaround for nuclear energy in the region.

Santee Cooper Pursues Buyers to Revive VC Summer Nuclear Project Amid Resurgent Nuclear Enthusiasm

In a surprising turn of events, Santee Cooper is actively seeking buyers to potentially revive the stalled VC Summer Nuclear Project situated in Jenkinsville, South Carolina. This project, which came to an abrupt halt in 2017, left local electricity customers grappling with an estimated $9 billion in construction costs.

The project was initiated by South Carolina Electric & Gas (SCE&G), now a part of Dominion Energy, before being taken over by Santee Cooper after the construction interruption. The initiative aims to breathe new life into the two unfinished reactors, potentially capitalizing on the growing national interest in nuclear power—a development propelled by booming demand for advanced manufacturing and the rise of AI-driven data centers.

Energy Demand Soars

South Carolina is currently witnessing a surge in energy requirements, driven in part by a significant increase in data centers in the state. Currently, there are nine operational data centers, with four more slated to be built. This uptick in energy demand is further incentivizing Santee Cooper to explore viable options for utilizing the incomplete VC Summer Units 2 and 3.

Legislative Support and Tax Incentives

Working alongside the legislative wing, state legislators have pre-filed Bill S.51, which encourages Santee Cooper to solicit proposals specifically for the unfinished units and consider alternative applications for the sprawling site. Furthermore, enticing federal tax incentives are on the table, allowing for generous credits of up to 40% and 80% in loan guarantees for nuclear construction—which could spark renewed interest.

No Technical Hurdles

According to recent findings from the Governor’s Nuclear Advisory Council, there are no existing technical obstacles to further examination and potential restart of the project. The plant site boasts a capacity of delivering 2,200 MW of nuclear energy quickly, along with robust infrastructure to support the project’s needs. Moreover, an in-depth report indicated the existing equipment and structures remain in excellent condition, countering concerns about extensive degradation over the nearly nine years since construction ceased.

Current Status of Construction

As it stands, one of the reactors is nearly 40% complete, while the second sits at about 20%. Despite these promising statistics, there are hesitations enveloping the possibility of restarting the construction due to the ongoing costs that ratepayers have been obligated to bear. Customers continue to see charges linked to the failed project on their utility bills, sparking criticism over the practicality of such a revival.

Industry Comparisons

Discussions surrounding Santee Cooper’s plans evoke memories of other stalled U.S. nuclear projects that eventually returned to life, like the Watts Bar Unit 2 in Tennessee. Learning from historical contexts while reflecting on public sentiment surrounding nuclear safety, Santee Cooper has confirmed that it does not intend to maintain ownership or operational control over the reactors if completed, instead favoring a private sector involvement approach.

Balancing Energy Production and Public Sentiment

As the inquiry into the revival of the VC Summer project advances, the need for North Carolina to align energy production, economic development, and public sentiment regarding nuclear energy remains pivotal. The decisions made in the coming months could set a significant precedent in addressing the growing energy demands while navigating the complex conditions surrounding the nuclear energy conversation in America.

Deeper Dive: News & Info About This Topic

HERE Resources

Renewed Interest in South Carolina’s Nuclear Power Reactors

Additional Resources

• Live 5 News: Revival of Failed VC Summer Nuclear Project
• Wikipedia: Nuclear Power in the United States
• KPTV: Amazon Funding Construction of 4 Nuclear Reactors
• Google Search: Amazon nuclear reactors
• WLTX: Could Construction Restart at VC Summer?
• Google Scholar: VC Summer nuclear project
• The State: Restarting SC Nuclear Project
• Encyclopedia Britannica: Nuclear Power