Markets.News
In Moncks Corner, South Carolina, progress has been made towards the potential sale of two partially constructed AP1000 units to Brookfield Asset Management. The Santee Cooper Board of Directors recently gave approval for a Memorandum of Understanding that outlines a formal feasibility period for completing the units. As per the deal terms, if the parties agree on a Final Investment Decision (FID) to proceed with construction, Santee Cooper stands to receive $2.7 billion in cash. Additionally, there is a provision for Brookfield Asset Management to acquire a 25% ownership stake in the project.