Santee Cooper Has Gotten Interest Over VC Summer Shares

The company says they still don't have a firm offer to take over their share of a construction project.

MONCKS CORNER, S.C. (AP) - The state-owned utility Santee Cooper in South Carolina says it's heard from two companies interested in its share of a now-abandoned nuclear project, but neither company has made a firm offer.

Santee Cooper CEO Lonnie Carter told The Post and Courier of Charleston he doesn't think either company will join the project.

Santee Cooper and South Carolina Electric & Gas Co. announced July 31 they were abandoning plans for two new nuclear reactors in Fairfield County they had been working on for nearly a decade and spent about $9 billion.

Carter said two interested parties emerged after he sent a letter to dozens of power companies earlier this month. Carter says neither response is viable because neither company has the assets to undertake the multi-billion project. He didn't name the companies.
 

© 2017 Associated Press


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