Brookfield partners with Nuclear Company for US reactor development

Brookfield, a global investment firm managing over $1 trillion in assets, announced a partnership with The Nuclear Company to form a new entity focused on developing Westinghouse nuclear reactor technology in the United States.

The newly formed company has been selected as project manager for the V.C. Summer nuclear project in Fairfield County, South Carolina. The project involves two partially constructed AP1000 units near Jenkinsville that were previously known as V.C. Summer Nuclear Units 2 and 3.

The partnership combines Brookfield's infrastructure development capabilities with The Nuclear Company's nuclear project delivery experience. The new entity will provide execution services for nuclear projects using Westinghouse reactor technology, including AP1000 and AP300 designs, along with project management, licensing support, and oversight of engineering, procurement, construction and commissioning activities.

Santee Cooper, South Carolina's state-owned utility company, supports the new company's role on the V.C. Summer project. Development of the project remains subject to evaluation, regulatory approvals, and execution of agreements.

"This joint venture reflects Brookfield's disciplined approach to large-scale infrastructure investment and focus on partnering with experienced operators," said Wyatt Hartley, Managing Partner at Brookfield.

Joe Klecha, Chief Nuclear Officer of The Nuclear Company, stated that the partnership creates a model bringing together people, capabilities, and capital for nuclear development.

The Nuclear Company was founded by nuclear power veterans, including team members who worked on Georgia's Vogtle Units 3 and 4. The company uses an AI-driven platform called Nuclear Operating System for reactor construction.

Brookfield Corporation (NYSE: BN) and Brookfield Asset Management (NYSE: BAM) are both listed on the New York Stock Exchange and Toronto Stock Exchange.

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