NuGeneration, the UK company planning to build a three-unit nuclear power plant at a Moorside site in northern England, is aiming to raise up to £20 billion ($28.36 billion) through equity and debt to fund construction of the plant, Platts Nucleonics Week has recently reported. The plant in West Cumbria would include three Westinghouse AP1000 reactors with a total capacity of 3,600 MW. The NuGen joint venture is 60% owned by Japanese reactor vendor Toshiba Corp., the parent company of Westinghouse, and 40% by France’s Engie, formerly GDF Suez. In seeking to raise between £10 billion and £20 billion, NuGen expects to receive a lower strike price for electricity at Moorside than the £92.50/MWh that EDF Energy and the UK government agreed upon to fund the construction of the proposed Hinkley Point C plant in western England, where the first unit is due to come online in 2023 if the project proceeds.
Platts 20th April 2016 read more »