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SCE&G announced it would buy the Columbia Energy Center in November, a few months after scuttling its expansion of the V.C. Summer Nuclear Station (above). File/Provided

South Carolina Electric & Gas has finalized its purchase of a Midlands power plant, a deal it struck to address the fallout of its failed V.C. Summer nuclear project.

The $180 million acquisition of the gas-fired Columbia Energy Center was announced in November.

The Cayce-based utility said last week that the 540-megawatt Gaston plant replaces about 40 percent of the projected generating capacity from its portion of the abandoned V.C. Summer expansion.

Shareholders of SCANA Corp., which owns SCE&G, are paying for the acquisition. The costs of operating and maintaining the 14-year-old plant, which employs about 20 workers, will be rolled into the customer rate base.

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The Columbia Energy Center was built by energy giant Calpine Corp., which sold it in 2014 to New York-based LS Power Equity Advisors.

Even before the sale, SCE&G was the plant's single biggest customer. It pucrhased about 55 percent of the electricity from the Calhoun County generating station, which also produces steam for a nearby manufacturer.

SCE&G owned 55 percent of the failed V.C. Summer expansion, which was scuttled in July after years of delays and cost overruns.

Contact John McDermott at 843-937-5572 or follow him on Twitter at @byjohnmcdermott