Santee Cooper finds another possible buyer for part of its stake in two new nuclear units
MONCKS CORNER — Santee Cooper has lined up another possible buyer for part of its stake in two new nuclear units under construction in the Midlands.
The state-owned utility announced Tuesday it has signed a letter of intent with American Municipal Power Inc. to explore the possible purchase of 2 to 5 percent of the new reactors. The letter of intent does not bind the Columbus, Ohio-based company to a purchase.
Earlier this month, the Berkeley County-based utility said it had signed another letter of intent that allows it to negotiate a deal with South Mississippi Electric Power Association to buy 2 percent to 7 percent of the $10 billion project as well as some of the energy it generates.
Santee Cooper owns 45 percent of the V.C. Summer nuclear power plant expansion. Cayce-based South Carolina Electric & Gas Co. owns 55 percent of the two 1,100-megawatt units being built in Fairfield County north of Columbia. The Nuclear Regulatory Commission approved licenses for the project in March.
Read more in Wednesday’s editions of The Post and Courier.
Reach Warren L. Wise at 937-5524 or twitter.com/warrenlancewise.