Santee Cooper, a major power provider in South Carolina, has enlisted financial advisers to identify potential buyers who can revive the construction of two nuclear reactors that were previously shelved. The state-owned utility anticipates strong interest from tech giants like Amazon.com and Microsoft, which require significant clean energy sources to power their data centers for artificial intelligence capabilities.
Santee Cooper officially announced its call for proposals on Wednesday for buyers to complete the project at the V.C. Summer Nuclear Station. This announcement confirms an earlier report from The Wall Street Journal regarding the utility's plans. Centerview Partners, a banking firm, is assisting Santee Cooper in managing the proposal submission process.
This initiative comes as the artificial intelligence boom is creating unprecedented demand for electricity. The decision to restart the V.C. Summer project reflects a growing trend where the need for reliable, carbon-free energy to fuel data centers is making previously stalled nuclear projects economically viable again. This contrasts with the recent completion of two new nuclear reactors at Plant Vogtle in Georgia, which faced significant cost overruns of over $30 billion and seven-year delays, highlighting the challenges of new nuclear construction in the U.S.
