Investment in UK nuclear revival plan looking uncertain

Posted at October 3, 2012 » By : » Categories : News » Comments Off on Investment in UK nuclear revival plan looking uncertain

There has been bad news for the UK government’s nuclear revival plans in recent days as reports indicate that investment is looking uncertain.

Earlier this week, energy and carbon management specialists Utilyx indicated that Spanish energy giant Iberdrola is apparently dropping its plans to build new nuclear reactors in the UK.

Iberdrola is part of a joint venture with France’s GDF Suez to invest in new nuclear development in Cumbria. But now, according to reports, the Spanish company is considering pulling out of NuGen, which SSE also opted out of last year.

Meanwhile, interest also appears to be wavering in Horizon Nuclear Power, the nuclear development project set up by German utilities E.ON and RWE to build new reactors at Wylfa in Wales and Oldbury in Gloucestershire.

Earlier this year, the partners dropped their plans and invited bids for the joint venture instead. But now, according to a report in the Financial Times, one of the expected three bids for the project from French engineering firm Areva and China Guangdong Nuclear Power Group has failed to materialize.

This leaves bids from a US consortium led by Westinghouse, which had also been previously linked with the Chinese National Nuclear Power Corporation, and from Japanese firm Hitachi.

The growing uncertainly leaves only French energy company EDF as looking on course to move ahead with its plans for new facilities at Hinkley and Sizewell.

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Related stories:
EC gives go ahead for EDF’s Hinkley Point nuclear project (8-Aug)
China reportedly eyeing up UK nuclear market (8-May)
E.ON and RWE npower drop UK nuclear development plans (29-Mar)
UK handing over nuclear power to France, warn environmentalists (13-Mar)

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