Nuclear Stocks Rally. NANO Nuclear Energy up 10%; Oklo up 5%; Vistra Energy up 4%
Nuclear-related stocks rose on Thursday after South Carolina power provider Santee Cooper said it is seeking proposals for buyers to restart construction of a pair of reactors at its V.C. Summer Nuclear Station. NANO Nuclear Energy Inc up 10.5%, Oklo Inc. up 5%.
The state-owned utility is betting interest will be strong, with tech giants such as Amazon and Microsoft in need of clean energy to fuel data centers for artificial intelligence capabilities, The Wall Street Journal reported.
Santee Cooper likely will look to tap a consortium that could include a construction firm, a tech company that will use the power and an additional partner for capital, according to the WSJ report.
Construction of two nuclear reactors at the V.C. Summer plant was halted in 2017 after Santee Cooper and the plant's then-co-owner, South Carolina Electric & Gas, already had spent ~$9B; Santee Cooper now owns 100% of the assets at the plant.
The company expects to recover some of the $9B that was previously spent, the report said, but completion of the reactors would still cost billions of dollars more over several years.
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