The abandoned VC Summer nuclear plant has found renewed expectations as Brookfield Asset Management takes more steps. The firm has agreed to form an atomic power plant development company with startup The Nuclear Company. It will initially focus on potentially restarting an abandoned project in South Carolina. The new company, which has not been named yet, aims to build a fleet of reactors in the United States.

Moreover, it will use designs from the Westinghouse Electric Co., which is majority-owned by Brookfield Renewable Partners. The initiative is expected to capitalize on the resurgence of the U.S. nuclear industry. It builds on a $80 billion plan by the White House to buy reactors from Westinghouse. The new development company has been selected as project manager for Brookfield’s potential effort to revive the project in South Carolina, a two-reactor plan that was abandoned in 2017.

Other Projects

Nuclear projects are becoming fundamental under the Trump administration with such projects making quick advancements across the U.S. For instance, Centrus Energy Corp. selected Geiger Brothers for the $900 million uranium enrichment plant expansion. Centrus Energy is a wholly owned subsidiary of the American Centrifuge Operating LLC. Both firms signed a Construction Contract that caps aggregate payments at $900 million through January 30, 2031. On the other hand, the scope of implementation by the Geiger Brothers in the expansion includes various aspects such as refurbishing existing facilities, installing equipment and building new infrastructure.

Outlook on the Abandoned VC Summer Nuclear Plant in South Carolina

Wyatt Hartley, a Brookfield manager partner noted that they are hopeful on accelerating the nuclear resurgence. Projects such as restarting the abandoned VC Summer nuclear plant is fundamental to this aim. “We believe this platform has the potential to accelerate the American nuclear resurgence,” Wyatt Hartley, a Brookfield managing partner, said in the statement.

VC Summer is considered a low point for the US nuclear industry. South Carolina utility Santee Cooper and the plant’s former co-owner, Scana Corp., halted construction on two AP1000 reactors in 2017 after costs climbed above $20 billion. On the other hand, Westinghouse, a contractor on the project, filed for bankruptcy. It was one of two US efforts to build the Westinghouse AP1000 reactors.

The other, at the Vogtle plant in Georgia, was completed in 2024, seven years behind schedule and more than $20 billion over budget. But demand is now surging for electricity, especially to power artificial intelligence systems, and that’s prompted renewed interest in nuclear energy. Brookfield has been evaluating whether to complete the South Carolina project since last year. It said in December it expects to make a final investment decision by late 2027.

Project Factsheet:

• Project Name: VC Summer Nuclear Plant Restart
• Location: Fairfield County, South Carolina, USA
• Estimated Investment Value: $10 Billion+ (potential restart scope)
• Project Type: Nuclear power plant (AP1000 reactors)

Timeline

• 2017: Original project abandoned
• 2024–2026: Revival plans and evaluations underway
• 2027: Target for Final Investment Decision (FID)
• Future: Construction restart subject to approval and financing

Site & Scale

• Reactor Type: Westinghouse AP1000
• Number of Reactors: 2 (partially completed)
• Planned Capacity: 2,000+ MW (combined)
• Project Status: Previously halted, now under redevelopment consideration

Project Teams

• Lead Investor: Brookfield Asset Management
• Development Partner: The Nuclear Company
• Technology Provider: Westinghouse Electric Company
• Original Utility Partner: Santee Cooper
• Also former corporation: SCANA Corporation

Infrastructure Scope

• Completion of two partially built nuclear reactors
• Deployment of AP1000 reactor technology
• Integration into U.S. power grid
• Development of broader nuclear reactor fleet across the U.S.

Strategic Objectives

• Revive a stalled nuclear mega-project
• Support growing U.S. electricity demand (including AI-driven load)
• Also accelerate nuclear energy deployment nationally
• Leverage proven reactor technology for scalability
• Position U.S. as a leader in next-phase nuclear expansion

Challenges

• History of cost overruns exceeding $20 billion
• Previous contractor bankruptcy and also project mismanagement
• High capital requirements and financing risks
• Also regulatory approvals and public perception concerns
• Long construction timelines typical of nuclear projects

Current Status

• Brookfield evaluating feasibility of completing the project
• New development company appointed to manage restart efforts
• Part of broader U.S. nuclear revival strategy
• Also final investment decision expected by 2027