Brookfield Asset Management Ltd. (NYSE: BAM) and The Nuclear Company announced a joint venture to develop nuclear power projects in the United States, leveraging Westinghouse’s AP1000 and AP300 reactor designs. The partnership will create a new entity that will design, build, and operate nuclear facilities capable of delivering baseload, low‑carbon power to the U.S. grid.
Brookfield brings a global infrastructure investment platform with more than $1 trillion in assets under management and a long‑standing focus on energy assets. The Nuclear Company was founded by veterans of the U.S. nuclear industry, including former Vogtle Units 3 and 4 project staff, giving the new venture a blend of capital discipline and on‑the‑ground nuclear expertise.
The joint venture has been selected as the project manager for the V.C. Summer nuclear project in Fairfield County, South Carolina, which involves two partially constructed AP1000 units that were halted in 2017. The project’s revival will require regulatory approvals and the execution of definitive agreements, and the timeline for a restart remains contingent on those approvals.
Brookfield’s entry into nuclear power aligns with its $100 billion global AI Infrastructure program, which seeks to secure reliable, high‑capacity power for data centers and AI factories. The company’s permanent capital base provides the financial flexibility needed to support long‑term, capital‑intensive projects such as nuclear plants.
Specific financial terms of the joint venture, including ownership percentages and capital commitments, have not been disclosed. Brookfield’s prior experience with nuclear projects is limited to its partnership with Westinghouse through Brookfield Renewable Partners, while The Nuclear Company’s track record is rooted in its veterans’ experience on the Vogtle project. The joint venture’s success will depend on navigating regulatory hurdles, securing financing, and demonstrating the viability of Westinghouse’s reactor designs in a competitive energy market.
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