SCANA Corp. and state-owned utility Santee Cooper on July 27 said Toshiba has agreed to pay nearly $2.2 billion to cap its liabilities from the unfinished V.C. Summer nuclear project in South Carolina. Toshiba subsidiary Westinghouse, which was building two nuclear units at the Summer site along with the troubled Vogtle nuclear project in Georgia, filed for bankruptcy in March.
Toshiba reached a similar $3.7 billion agreement with Southern Co. in June as it seeks to limit its liabilities from the Vogtle project. Both AP1000 nuclear projects are years behind schedule and billions of dollars over budget.
