It has been reported that the UK Government is to offer £13.3bn in financial support for Hitachi to build the Wylfa Newydd nuclear power station. The report from Japanese news agency Kyodo cites sources saying it was aimed at easing concerns about the project costs, which have risen from the initial £10bn estimate. Hitachi’s Horizon Nuclear Power hopes to start building on Anglesey in 2020. But UK government officials said they “don’t recognise” the reported claims. The Department for Business, Energy and Industrial Strategy (BEIS) said discussions were “commercially sensitive and ongoing”. The Horizon spokesman said: “Given the size of the investment involved and the nature of the project, these discussions are complex and detailed. “While we understand the strong interest in progress, we will not be commenting until they have reached a conclusion.” Kyodo reports that costs have risen to about £20bn and the UK Government support would cover a large proportion. The reports also suggested UK taxpayers could own a 33% share of the project. But a BEIS official added on Thursday: “We don’t recognise these reports. Nuclear power remains a crucial part of the UK’s energy future but we have always been clear that this must be delivered at the right price for consumers and taxpayers.”
BBC 17th May 2018 read more »
The British government has offered to provide ¥2 trillion (£13.3bn) in financial support to build nuclear reactors for Hitachi-owned Horizon Nuclear Power plant in Wales.
City AM 17th May 2018 read more »
The British government is offering to shoulder 2 trillion yen ($18 billion) in loans and other means to cover a huge portion of the cost of a project pursued by Hitachi Ltd. to build nuclear reactors in Wales, a source close to the matter said Thursday. With the proposal aimed at easing concerns about swelling costs that have ballooned to 3 trillion yen, the Japanese maker of machinery and infrastructure systems will make a decision, possibly this week, on whether to go ahead with the project, the source said. If it decides to continue, Hitachi is set to exchange a document that would serve as a basic agreement with the British government. But observers have questioned whether the British government could implement the proposal worth 2 trillion yen, as some members of the British parliament are opposed to extending excessive financial support to the nuclear project. Hitachi had applied for a site license to build two advanced boiling water reactors on the Isle of Anglesey in Wales, to be overseen by its British nuclear unit Horizon Nuclear Power Ltd. It aims to start operation from the first half of the 2020s. But concerned about the operational costs, Hitachi Chairman Hiroaki Nakanishi made a personal request to British Prime Minister Theresa May on May 3 for support for the nuclear plant construction operations. Progress in Hitachi’s overseas nuclear project comes as a boost for Prime Minister Shinzo Abe’s policy goal of exporting nuclear power technology to other nations to drive economic growth at a time when other nuclear projects abroad involving Japanese companies have been struggling. Among Hitachi’s rivals, industrial conglomerate Toshiba Corp. has also pulled out of overseas nuclear operations after incurring huge losses in its atomic business in the United States. A nuclear power plant project in Turkey, pursued by Mitsubishi Heavy Industries Ltd., has also hit a snag owing to a surge in safety-related costs.
Mainichi 17th May 2018 read more »
The British government has offered 2 trillion yen (13.3 billion pounds) in financial support to a unit of Japan’s Hitachi Ltd (6501.T) to build nuclear reactors in Wales, Kyodo News reported on Thursday. Hitachi could decide as early as this week whether to go ahead, Kyodo said. It said the government’s offer was aimed at easing concerns about rising cost expectations, which have increased to 3 trillion yen. Cracks found recently in the core of a reactor at the Hunterston B power station in Scotland have prompted concerns that Britain’s ageing plants will not be able to supply as much power as expected.
Reuters 17th May 2018 read more »