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Santee Cooper: Offers to Revive Summer Nuclear Expansion Not Viable

 http://www.power-eng.com/articles/2017/08/santee-cooper-offers-to-revive-summer-nuclear-expansion-not-viable.html, Aug 22, 2017   Editors of Power Engineering

Two companies have offered to buy into the currently-abandoned Summer nuclear expansion, though Santee Cooper CEO Lonnie Carter said neither are viable.

Carter said neither of the parties that made an offer has the assets to undertake the massive and expensive project. In fact, one company is “somehow trying to get into the nuclear business in this country so it can actually build power plants in the Mideast,” The Post and Courierreported. He did not identify the companies.

Santee Cooper has set a September 15 deadline for potential buyers.

The offers came after Carter sent a letter seeking buyers for its 45 percent share in the plant to dozens of power companies earlier this month. SCANA Corp. owns the remaining 55 percent.

Estimates from both companies indicated the final cost of the two new nuclear reactors would be $21 billion, or nearly double the original estimate.

Additionally, South Carolina Governor Henry McMaster has initiated his own search for a buyer, and has reached out to officials at Duke Energy, Dominion Energy and Southern Power.

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August 23, 2017 - Posted by | business and costs, USA

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