The new secretary of the Mannin branch of the Celtic League is calling on the Manx government to oppose plans for a new nuclear power station on Anglesey. Wylfa nuclear plant, located just 35 miles from the southern coast of the Isle of Man, closed in 2015 after more than 40 years of service. Now the Westminster government has announced that public money will be invested into a multi-billion pound replacement. Wylfa Newydd would have a 60-year operational life and be run by Horizon Nuclear power, a subsidiary of Japanese giant Hitachi.
Isle of Man Today 14th June 2018 read more »
Hitachi continues to search for ways to share the burdens of building a British nuclear power plant and now is sounding out the Development Bank of Japan and several Japanese power companies about taking stakes in the project, a high hurdle as many are still struggling with the heavy financial fallout from the 2011 meltdown at Fukushima. The cost projection for the project on the Welsh island of Anglesey has ballooned to 3 trillion yen ($27.1 billion). To keep it commercially viable, the British government pledged on June 4 to arrange the entire 2 trillion yen in necessary loans, twice its original offer. In addition, 900 billion yen is to be invested in the Hitachi subsidiary responsible for developing and building the plant, with 300 billion yen coming from a consortium of Japanese companies and the Japanese government. The DBJ is considering an investment as a government-affiliated financial institution. Chubu Electric Power, Tokyo Electric Power Co. Holdings, Kansai Electric Power, Chugoku Electric Power and Hokuriku Electric Power are some of the utilities being approached about taking small stakes in the project, as well as Japan Atomic Power. Hitachi is also asking the utilities for technical support. Japan Atomic Power already plans to support such aspects as operation and maintenance of the U.K. plant with U.S. energy provider Exelon. Tepco and Chubu Electric both operate in Japan boiling water reactors, the same type that will be built on Anglesey. But winning participation from these companies will not be an easy task. Tepco must raise 16 trillion yen of the 22 trillion yen needed to decommission the Fukushima Dai-ichi nuclear plant and compensate victims of the meltdown. The company has said it will improve profitability to do so, but such efforts are still in the preliminary stages.
Nikkei Asian Review 16th June 2018 read more »