Meltdown of Toshiba’s Nuclear Business Dooms New Construction in the U.S. Toshiba’s four massive nuclear plants now under construction in the southern United States are AP1000 pressurized-water reactors, which use a simplified design that was supposed to accelerate construction. But the Vogtle project in Georgia and the V.C. Summer project in South Carolina are both around three years behind schedule and, together, billions of dollars over budget. The company said those projects will continue, but many energy experts believe Toshiba’s decision to cease building new reactors spells the end of any nuclear construction in the United States for the foreseeable future. Analysts doubt Toshiba will find a buyer for its Westinghouse stake, or any willing construction partners to move ahead with dozens of additional plants it had once planned.
Technology Review 17th Feb 2017 read more »
Toshiba shares plunged more than 9 per cent to their lowest in almost a year yesterday on fears that the embattled Japanese conglomerate’s credit rating could be cut even further to junk. S&P, the credit rating agency, warned that it could downgrade Toshiba’s rating by several notches if the company received any form of debt restructuring that it defined as “selective default”.
Times 18th Feb 2017 read more »