Toshiba announced on Friday it was reviewing its nuclear activities in response to a financial crisis, leaving a question mark over the future of Moorside. “This is an anxiety but it’s one to which there is a solution, albeit probably at the cost of a little bit of time,” said Tim Yeo, who chaired the Energy and Climate Change Committee from 2010-2015 and is now chairman of the trade group New Nuclear Watch Europe. “I think what it will throw up is the possibility of bringing a new partner into the NuGen consortium”, he added. South Korean utility Kepco was reported to be close to investing in the project in October, and in December the Times reported that representatives from the company had met with business and energy secretary Greg Clark. “They’ve been a bit discouraged, I think, by the reception they’ve had in the UK,” said Yeo. “But my understanding is they are now talking to Toshiba about taking a stake … I think there’s no doubt that Kepco, with the full backing of the Korean government, is interested.” He said Kepco’s involvement could delay the project if it insisted on using its own reactor technology as it would have to go through the lengthy Generic Design Assessment process. “That would set the programme back a bit,” he added.
Utility Week 31st Jan 2017 read more »
The future of a new Cumbrian power plant is in doubt, after one of the key players admitted it is reviewing its involvement. A spokesman for Toshiba – which holds a 60 per cent stake in Moorside developer NuGen, alongside ENGIE of France – told the News & Star it is re-examining all of its nuclear projects outside Japan. This includes the proposed nuclear new build at Moorside, near Sellafield.
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