SUGAR LAND, Texas, Jan. 4, 2018 /PRNewswire/ -- Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--In the end, the nuclear skeptics were right: Building a nuclear power plant is a bet-the-company proposition. That warning materialized on Wednesday, when Dominion Energy Incorporated (Richmond, Virginia) and SCANA Corporation (Cayce, South Carolina) agreed to merge in an all-stock deal valued at $14.6 billion, including the assumption of debt.
SCANA's stock price had fallen about 40% since July 31, when it announced it was terminating construction of two new nuclear units at the Virgil C. Summer Nuclear Power Station in South Carolina. SCANA and its partner in the project, Santee Cooper (Moncks Corner, South Carolina), walked away from the project after spending about $9 billion to build those units over a decade.
Within this article: Details on the proposed purchase of SCANA Corporation.
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William Ploch
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