Kepco is unlikely to be tempted into taking over the troubled Moorside nuclear project without some sort of public financing, a former energy minister has told Utility Week. The South Korean state-owned utility will also be hesitant to step in and save the development unless it can use its own reactor technology. “They’d want a signal about financing from the government,” said chairman of New Nuclear Watch Europe, Tim Yeo. “I’ve been arguing for some time that we should look at providing during the construction phase some government finance.” Yeo said this would have to be on the basis of repayments beginning as soon as the plant is generating.
Utility Week 6th April 2017 read more »
Toshiba has been forced to buy out French utility Engie from a project to build three nuclear reactors in Moorside, northwest England, adding to strains on the Japanese company’s finances and to uncertainty over the project. Engie said on Tuesday it was exercising its right to sell its 40 percent stake in the NuGen venture to Toshiba following the bankruptcy of the Japanese firm’s Westinghouse unit. Toshiba will pay 15.3 billion yen ($138.5 million) for the stake. Toshiba is now the sole owner of NuGen, but has said it is looking for more investors to join the $15-20 billion project or to sell out altogether.
Asahi Shimbun 5th April 2017 read more »