MONCKS CORNER, S.C. – Santee Cooper has received a robust response to its initial request for expressions of interest related to the two partially constructed generating units at V.C. Summer Nuclear Station. The process was launched on Jan. 22 to gauge interest by others in acquiring and completing the units or proposing other alternatives.
Entities submitting proposals represent leading construction, financial, utility, and technology firms from around the world.
“Santee Cooper is pleased with the level of response by industry leaders to this initial step in what will be a deliberate process related to the future of these two units,” said Jimmy Staton, President and CEO. “The depth and breadth of experience represented by the responding entities is encouraging, and we are committed to giving the review of responses the level of seriousness that it needs and deserves.”
Santee Cooper is working with Centerview Partners LLC and J.P. Morgan in conducting the review of submissions and managing other next steps. The process, which also includes time for the participating entities to conduct necessary due diligence, will likely take 9-18 months to complete.
“Santee Cooper’s motivation in this process is to maximize the value of the assets at Jenkinsville for the benefit of our customers,” Staton continued. “Santee Cooper does not want to own or operate these units, but if we can enable someone else to bring these units online, then South Carolina also benefits from the additional emissions-free capacity the units would provide.”