Hitachi boss raises concerns about funding of its own Wylfa Newydd project with foreign secretary during visit to Japan. The head of Hitachi has warned that the debacle surrounding the construction of Hinkley Point nuclear plant throws up “very serious concerns” about its own investment in the UK. Hiroaki Nakanishi, chairman and chief executive of the Japanese industrial giant, said the setbacks experienced by Hinkley’s developer EDF raised questions about how future plants including its Wylfa Newydd project are funded. In an interview with The Telegraph, Mr Nakanishi revealed that he had expressed concerns about the expected costs of the project with Philip Hammond during the Foreign Secretary’s visit to Japan this month. Horizon is in talks with the Government to ensure the Wylfa deal presents value for money for both sides. Horizon is in negotiations with the Department of Energy and Climate Change (DECC) on issues such as the strike price, or the amount the Government will guarantee per unit of electricity produced, which will be key to attracting additional finance.
Telegraph 30th Jan 2016 read more »