MONCKS CORNER, S.C. (AP) -- Duke Energy is exploring an investment in a pair of new nuclear reactors in South Carolina by purchasing part of state-owned utility Santee Cooper's share of the project.
The two electricity companies said Wednesday they have signed a letter of intent that opens a path for Duke Energy to explore a minority stake in the new reactors at the V.C. Summer Nuclear Station about 25 miles northwest of Columbia.
Santee Cooper signed a similar agreement in March with Orlando Utilities Commission for the potential purchase of the same 5 percent to 10 percent of output from the two units.
Santee Cooper and South Carolina Electric & Gas have proposed building two new 1,100-megawatt reactors at the Fairfield County nuclear plant, projecting they could begin generating power in 2016 and 2019.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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