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HomeLatest NewsDuke Energy won’t buy two units being built at SC nuclear plant

Duke Energy won’t buy two units being built at SC nuclear plant

Duke Energy won’t acquire a stake in two units under construction at the V.C. Summer nuclear plant in South Carolina, reports The Charlotte Observer.

South Carolina Electric & Gas instead said it would pay state-owned utility Santee Cooper about $500 million for a 5% interest in the units.

Santee Cooper already owns a 45% share in the project but had been looking for partners – widely expected to be Duke – since 2010. Duke signed intent to explore buying a 5% to 10% share in 2011.

The decision won’t affect Duke’s decision on whether to build its own nuclear plant, Lee, near Gaffney, S.C.

A federal license for that $11 billion plant isn’t expected until 2016. Duke would decide after that point whether to go forward with construction.

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