The UK government should utilise pension scheme demand for infrastructure to help fund a new nuclear power plant in North Wales, according to the chief executive of the Pensions Infrastructure Platform (PiP). Mike Weston, who has led the PiP since its formation in 2014, said the government should consider a similar funding structure to that employed in 2015 when securing institutional backing for the Thames Tideway Tunnel, a project to modernise London’s sewers. The site for the nuclear power station in Wylfa Newydd on the island of Anglesey is owned by Hitachi. The company is reportedly in talks with the Japanese government to secure funding for its construction, but Weston argued that it could be an ideal investment for UK pension funds.
Investment and Pensions Europe 20th Dec 2016 read more »