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Virgil C. Summer Nuclear Power Plant: Construction resumes after financial problems and growing interest in nuclear energy!
The nuclear power plant Virgil C. Summer, located in South Carolina, is once again in the spotlight. After being shut down eight years ago due to budget overruns and the bankruptcy of Westinghouse, a traditional nuclear energy company, Santee Cooper, a state-owned utility, intends to revive the project.
This decision reflects the growing global interest in nuclear energy, driven by rising energy demand, especially to power artificial intelligence data centers.
Virgil C. Summer: A journey marked by financial challenges
The history of the expansion of nuclear power plant began in 2008, with the construction of two new reactors.
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However, project costs have ballooned from $9,8 billion to a staggering $25 billion, according to an audit conducted in 2017.
This unexpected increase in expenses and the delay in the schedule resulted in the loss of US$2 billion in federal incentives, creating a financial hole that directly impacted investors and taxpayers.
The financial impact was so significant that it contributed to the bankruptcy of Westinghouse, as well as the conviction of two executives of SCANA, a partner of Santee Cooper, for securities fraud.
Recovery driven by high demand for energy
Despite the troubled history, the Santee Cooper sees an opportunity to revitalize the project.
The growing demand for energy, especially from large technology companies, has revived interest in nuclear energy as a sustainable and reliable solution.
Recently, giants such as Microsoft and Meta have shown interest in nuclear projects.
Microsoft, for example, signed a contract with Constellation Energy to restart a reactor at Three Mile Island, while Meta seeks partners to add up to 4 gigawatts of new nuclear capacity.
Based on this scenario, Santee Cooper plans to attract investors and technology companies interested in acquiring the energy generated by the plant's two new reactors.
Political and financial obstacles
While the project’s resumption is seen as a solution to ease the financial burden on taxpayers, there are still political and legal issues to be addressed. Part of the project’s costs were passed on to taxpayers due to a state law, creating a significant financial burden for local residents.
Furthermore, as a state-owned utility, any deal involving the Virgil C. Summer nuclear plant will attract the attention of politicians and regulators, who will have to oversee every step of the process.
The Future of the Virgil C. Summer Plant
Nuclear power is becoming a key part of the global push for cleaner, more efficient energy alternatives.
Despite historic challenges, the resumption of reactor construction at the Virgil C. Summer plant could represent not only a milestone for nuclear energy in the United States, but also an example of resilience in the sector.
If completed, the project could meet growing energy demands, benefiting both businesses and taxpayers, while putting South Carolina back on the energy innovation map.
With information from: https://olhardigital.com.br/2025/01/24/pro/usina-nuclear-que-gerou-prejuizo-bilionario-devera-ser-reativada/
