Showing posts with label NuGen. Show all posts
Showing posts with label NuGen. Show all posts

Tuesday, December 2, 2014

Cumbria's Moorside nuclear power plant funding plan agreed

From BBC.com

Funding assistance for a new nuclear power plant in Cumbria has been guaranteed by the government.

The Treasury has signed a "co-operation agreement" with developers NuGen, Toshiba and GDF Suez, to help them access a finance scheme for a 3.6GW facility at Moorside near Sellafield.

Three reactors, billed as being able to power up to six million homes, are due to come online in 2024. A final investment decision is due in 2018.

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Friday, October 5, 2012

Sellafield nuclear power station plans still on track, says Britain’s Energy Coast chief

The chairman’s of Britain’s Energy Coast has received assurances “at the highest level” that plans for nuclear new build at Sellafield remain on track.

The Rt Hon Brian Wilson, a former Labour energy minister, spoke out after The Sunday Times claimed that one half of the NuGen consortium was pulling out.

The newspaper reported that Spanish company Iberdrola had told its partner GDF Suez it was withdrawing, leaving the £5bn Moorside project in serious doubt.

NuGen issued a denial on Monday and now Mr Wilson has weighed in.

He said: “We are assured at the highest levels that the story is not true and that Iberdrola are still very much part of the NuGen consortium.

“In the current economic climate, it is perhaps inevitable that this kind of speculation should occur.
“However, I am acutely aware that until work is under way, it is open to any participant in nuclear new-build to have second thoughts.

“This might act as a wake-up call for all branches of government that have an input into the nuclear new-build programme. A greater sense of urgency is required.

“Companies that are committed to very large investments are entitled to some reasonable assurances and certainties about the market they will enter when these power stations are eventually built.”

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Monday, May 7, 2012

Iberdrola Studies Bid for U.K. Nuclear Sites, Expansion Reports

Iberdrola SA (IBE) is one of several companies studying whether to bid for a U.K. company that has two sites suitable for building nuclear reactors, Expansion reported, citing unidentified people in the industry.
The Spanish power company is analyzing Horizon Nuclear Power, a venture of RWE AG (RWE) and EON AG, as a possible acquisition target by its NuGen venture with GDF Suez (GSZ), the Spanish newspaper said. NuGen would have to pay about 300 million pounds ($485 million) for Horizon, according to analysts, the report said.

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