Lawsuit: Santee Cooper blowing chances to sell millions of dollars in VC Summer parts
COLUMBIA, SC -- The lead contractor of South Carolina’s failed, $9 billion nuclear power project has filed a lawsuit accusing Santee Cooper of thwarting efforts to sell “tens of millions of dollars” in equipment and parts left at the construction site.
Proceeds from the equipment sales could help pay down Santee Cooper’s $4 billion nuclear debt, saving the state-owned utility’s ratepayers money.
But Santee Cooper won’t agree to a sale because it doesn’t want to share the profits with Pennsylvania-based Westinghouse Electric Company, the nuclear construction company argued in a lawsuit filed late Friday.
The situation is urgent, Westinghouse argues, because there is a limited market for the nuclear parts and because Georgia-based Southern Company — in the midst of building its own nuclear power plant — has made a multimillion-dollar offer that expires in two weeks.
Read more: https://www.thestate.com/news/politics-government/article228533024.html
