Brookfield Renewable Corporation and The Nuclear Company announced a joint venture on May 4 2026 to develop nuclear power projects in the United States using Westinghouse’s AP1000 and AP300 reactor designs. The partnership will focus on deploying these advanced reactors and will position Brookfield as a comprehensive low‑carbon power provider.
The joint venture has been selected as the project manager for the V.C. Summer Nuclear Units 2 and 3 project in South Carolina, a high‑profile site that was previously halted after Westinghouse’s bankruptcy and cost overruns. The new partnership will oversee the remaining construction and bring the project back to life, leveraging Brookfield’s infrastructure and financing expertise.
Brookfield’s involvement is underpinned by its 51 % ownership of Westinghouse Electric Company, acquired in October 2022 and completed in November 2023. This stake gives Brookfield direct access to Westinghouse technology and a strategic foothold in the nuclear sector, complementing its existing hydroelectric, wind, and solar assets.
The joint venture does not require an immediate capital outlay or acquisition of assets. Brookfield and The Nuclear Company plan to make a final investment decision on the V.C. Summer project by late 2027, with the potential to tap U.S. federal incentives and long‑term contracts that support new nuclear construction.
Strategically, the move diversifies Brookfield’s portfolio beyond renewables, providing a low‑carbon baseload option that aligns with growing demand for reliable power from AI data centers and other high‑capacity users. The partnership also positions Brookfield to benefit from government initiatives aimed at revitalizing the U.S. nuclear industry.
Wyatt Hartley, Managing Partner at Brookfield, said, "This joint venture reflects Brookfield's disciplined approach to large‑scale infrastructure investment and focus on partnering with experienced operators." Joe Klecha, Chief Nuclear Officer of The Nuclear Company, added, "The partnership combines people, capabilities, and capital for nuclear project delivery." Jimmy Staton, President and CEO of Santee Cooper, noted, "This action brings us closer to our goal of delivering lasting value for our customers by enabling completion of these two nuclear units. We chose Brookfield to lead that effort based on its tremendous financial expertise and industry resources."
The announcement comes amid a broader U.S. nuclear renaissance, with federal incentives, loan guarantees, and tax credits designed to reduce the financial risk of new reactors. By combining Brookfield’s capital and project‑management experience with The Nuclear Company’s operational expertise, the joint venture aims to accelerate the revival of the V.C. Summer project and potentially unlock additional nuclear projects across the country.
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