Brookfield and The Nuclear Company announced a joint venture on May 4, 2026 that will develop nuclear projects across the United States using Westinghouse’s AP1000 and AP300 reactor technology. The partnership will bring together Brookfield’s global investment expertise and The Nuclear Company’s track record of delivering nuclear projects, with both firms committing capital, regulatory support, and operational know‑how to bring new sites to market.
The joint venture has been selected as the project manager for the V.C. Summer nuclear project in Fairfield County, South Carolina. The project includes two partially constructed AP1000 units, and Santee Cooper, the state‑owned utility, has endorsed the new company’s role. By taking charge of this high‑profile project, the venture positions itself to accelerate the completion of a key asset that has been stalled for years due to cost overruns and regulatory delays.
Brookfield’s involvement signals a strategic pivot toward low‑carbon power. The company, which manages more than $1 trillion in assets, is merging its Business Partners and Business Corporation units into a single publicly traded entity (Brookfield Business Corporation) expected to finish in the first quarter of 2026. The merger will broaden investor access and improve liquidity while allowing Brookfield to deploy capital more efficiently into infrastructure such as nuclear.
Westinghouse, jointly owned by Brookfield and Cameco, is a central partner in a U.S. government‑backed effort to deploy $80 billion worth of new reactors. The joint venture’s use of Westinghouse technology aligns with this national strategy and positions the partnership to benefit from federal incentives and streamlined regulatory pathways.
The venture’s launch comes at a time when demand for reliable, low‑carbon electricity is rising sharply, driven in part by the energy needs of artificial intelligence workloads and the broader decarbonization push. By combining Brookfield’s capital discipline with The Nuclear Company’s delivery expertise, the joint venture aims to reduce the risks that have historically plagued new nuclear construction and to bring the V.C. Summer project to a successful completion.
Brookfield’s recent financials underscore the company’s capacity to support such a capital‑intensive initiative. For the year ended December 31, 2025, Brookfield Business Partners reported a net income of $43 million, a turnaround from a $109 million loss the year before, and an adjusted EBITDA of $2.409 billion. These results demonstrate the firm’s ability to generate cash flow while pursuing high‑impact infrastructure projects.
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