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Brookfield and The Nuclear Company: A New Era for Nuclear Development in the U.S.

In an ambitious move to expedite the growth of nuclear energy in the United States, global investment powerhouse Brookfield has joined forces with The Nuclear Company (TNC), a leader in nuclear project development and delivery. This strategic partnership aims to create a new entity focused on the technological advancement of Westinghouse nuclear reactors, marking a significant step in the ongoing evolution of America’s energy sector.

Harnessing Expertise for Comprehensive Project Execution

Brookfield's extensive capabilities in asset management and energy infrastructure development will seamlessly merge with TNC's specialized project execution prowess. The newly formed company intends to deliver comprehensive project executions for nuclear ventures, particularly those rooted in Westinghouse reactor technologies such as the AP1000 and AP300
. This includes end-to-end project management, support in licensing processes, as well as oversight of engineering, procurement, construction, and commissioning activities.

The partnership has targeted achieving definitive documentation over the coming months, pending the usual approvals and conditions. A major focus lies on the potential development of two partially constructed AP1000 units located near Jenkinsville, South Carolina. Notably, Brookfield has appointed the new entity as the project manager for the V.C. Summer Nuclear Project, representing one of the most viable nuclear development opportunities currently available in the U.S.

Support and Regulatory Oversight

With Santee Cooper, the public utility in South Carolina, backing the project participation, the newly established company's role will also encompass supporting due diligence activities for the project and managing implementation if it advances to a final investment decision. However, this development is still subject to thorough evaluations, regulatory approvals, and the finalization of definitive agreements.

Wyatt Hartley, a Senior Managing Partner at Brookfield, stated, "This joint venture reflects Brookfield's disciplined approach to large-scale infrastructure investments and our commitment to partnering with seasoned operators. By aligning our global infrastructure development capabilities with nuclear project execution expertise, we believe this platform has the potential to accelerate the resurgence of nuclear energy in America, leveraging the dynamic partnership between Westinghouse and the U.S. government."

TNC’s Vision for Nuclear Energy

The Nuclear Company emphasizes a transformative approach to nuclear construction through its unique design and multi-faceted construction strategies. They deploy an exclusive Nuclear Operating System (NOS)—an AI-driven platform that revolutionizes reactor construction, making it predictable and data-informed. Founded by veterans from the nuclear and energy infrastructure sectors, including the team responsible for the commissioning of the Vogtle units, TNC is committed to enhancing nuclear energy and maintaining existing facilities to ensure America's long-term energy security.

Joe Klecha, Chief Nuclear Officer at TNC, commented, "Our team has been built on the ground in Vogtle and on some of the world's most complex energy projects. We know how to deliver nuclear power. However, what has been missing is a model that brings together the people, capabilities, and capital necessary to do so swiftly and at scale. This partnership fulfills that gap."

About Brookfield and The Nuclear Company

Brookfield is a leading global investment firm managing over $1 trillion in assets, focusing on owning and managing essential properties and services that are pivotal to the global economy. They invest on behalf of global institutions and individuals across sectors, promoting economic growth and productivity.

With a legacy spanning more than a century and operations across over 30 countries, Brookfield emphasizes long-term capital deployment for building foundational assets supporting a more connected, resilient, and sustainable future.

In contrast, The Nuclear Company continues to pioneer modernization in nuclear construction. Their approach, well-embedded in advanced project techniques and AI technology, seeks to not only enhance nuclear deployment but also ensure sustainability and efficiency within the realm of energy security in the U.S.

The partnership signals a turning point in nuclear energy development, promising both innovation and efficiency in production, thus contributing significantly to the national energy landscape.

As developments unfold, observers of the energy sector will be keenly watching how this collaboration will enhance the capability and capacity of nuclear energy in the United States.