A South Carolina nuclear advisory panel heard Monday that various feasibility tasks are underway to help a state-owned electric utility decide whether a $2.7 billion investment will be made to complete two partially built nuclear reactors.
The Virgil C. Summer Nuclear Power Station has three units, with only one currently active. The other two were the center of a legal scandal years ago that led to some corporate executives being convicted in federal court on fraud-related charges. Units 2 and 3 were abandoned after $9 billion was poured into the work.
On Monday, Santee Cooper, a utility owned by the state of South Carolina, updated the Governor’s Nuclear Advisory Council (GNAC) on its work at Virgil C. Summer Nuclear Power Station (VC Summer), in Jenkinsville, about 30 miles northwest of Columbia.
Utility Chief Operating Officer Mike Finissi said work is progressing, following the company’s October 2025 selection of Brookfield Asset Management to restart the unfinished project, and Brookfield agreeing to conduct a feasibility study two months later, to determine if the facility is ripe for the project.
Brookfield must make that confirmation by June 26, followed by an 18-24 month assessment period to determine a target date for its final investment decision. Finissi said once that decision is made Santee Cooper will receive $2.7 billion toward the debt Santee Cooper accrued. In exchange, Brookfield will receive a 75% ownership stake in the new V.C. Summer, with Santee Cooper retaining 25 percent.
So far this calendar year, Phase 1 at the site has included feasibility work such as cleanup, plant walkdowns, and the establishing of key personnel like a feasibility committee and a project manager. Through the rest of the year, expectations include signed agreements for those roles, a submission from Brookfield of Phase 2 milestones,
Council members cited the previous issues and general concerns of the major project. Finissi acknowledged those concerns, but also said the two units already have startup work that previous projects he’s been a part of did not have. Additionally, Santee Cooper is working with partners to establish project oversight to manage costs and work.
“We are setting up for internal oversight, and we also have an architect engineering firm, that’s done nuclear work in the past, that will be an independent monitor to our board of directors,” Finissi said.
In addition to the work at V.C. Summer, the nuclear advisory council also received an update on South Carolina’s desire to host a Nuclear Lifecycle Innovation Campus. Specifically, SC Nexus, a state-operated consortium of 50+ members, responded to the Energy Department’s Request for Information (RFI), which served as an invitation for states to show interest in having a campus.
SC Nexus Executive Director Cristina Paredes said Monday that SC Nexus submitted its response on March 21, ahead of the April 1 deadline. In the response, SC Nexus outlined how the states’ resources align with fuel fabrication, used fuel reprocessing, waste disposition, and other capabilities DOE is looking for from campuses.
Specifically, the group pointed to South Carolina’s: ability to handle nuclear fuel and waste via the DOE’s Savannah River Site; the technical colleges and universities that create a viable workforce; and its history and future ability to support infrastructure aligned with national security standards.
Parades said around 25 states responded to the RFI, and that the Energy Department, by the end of April, will select a handful for continued conversations and negotiations. “Their schedule is very aggressive,” she said. “Based on our conversations with Department of Energy officials, they’re looking at the end of the summer to have agreements in place. They could land anywhere from three to five states at that point.”
Other presentations during the meeting include one from Orano, a French company that specializes in reprocessing and recycling nuclear fuel. Rick Lee, the chairman of the advisory council, said South Carolina is interested in increasing its fuel reprocessing at the old Allied Gulf Nuclear Services (AGNS) plant in Barnwell.
“Orano has been reprocessing for more than 20 years and has a lot of experience in this field,” Lee said. “So, we were excited to learn from them and make that connection.”