The Nuclear Co. And Brookfield Partner For New Large Reactor Projects
Brookfield announced that it has formed a partnership with The Nuclear Company (TNC), to create a new company for developing Westinghouse reactor technology. This new company, which remains unnamed, is being positioned as a world-leading nuclear project execution company. A few weeks ago, we covered how Bloomberg anticipated an announcement for new AP1000s. But it appears TNC is focusing the JV’s efforts, in the near term, on the possible restart and completion of the two AP1000 reactors at VC Summer in South Carolina. Westinghouse originally attempted to construct the two large reactors in 2017, but eventually canceled the project after costs spiraled out of control. Brookfield is now performing the studies necessary to make a Final Investment Decision by 2027, which would mean purchasing the partially-completed assets from Santee Cooper for $2.7 billion. The new company will also offer execution capabilities for deploying Westinghouse’s smaller AP300 design with “end-to-end project management, licensing support, and oversight of engineering, procurement, construction and commissioning activity.” TNC’s Chief Nuclear Officer, Joe Klecha, frames the announcement as finally addressing what the nuclear …









