MONCKS CORNER, S.C. – Santee Cooper’s plan to deliver lasting value for customers and the state by completing the Fairfield Nuclear Project took a major step forward today, with the announcement of a project manager: a new company being formed by Brookfield and Columbia, SC-based The Nuclear Company (TNC). Brookfield and TNC’s new company will also focus on development of Westinghouse’s nuclear reactor technologies in projects around the world.
Selecting a project manager for the Fairfield Nuclear Project is a key deliverable as spelled out in the Memorandum of Understanding between Brookfield and Santee Cooper that governs project activity through Brookfield’s Final Investment Decision. This new entity will engage the best of both companies in the key tasks ahead: completing the ongoing detailed feasibility study and, if Brookfield makes a Final Investment Decision to move forward, managing overall execution of the project.
“This action brings us closer to our goal of delivering lasting value for our customers by enabling completion of these two nuclear units,” said Jimmy Staton, Santee Cooper President and CEO. “We chose Brookfield to lead that effort based on its tremendous financial expertise and industry resources. TNC brings complementary strengths to the new company that will serve the project well, and their involvement amplifies South Carolina’s role leading a national nuclear resurgence.”
The arrangement for the new company to serve as project manager for the Fairfield Nuclear Project is subject to finalizing definitive agreements and other conditions. Follow project updates at www.scnuclear.com.