UK mulls direct stake in Hitachi nuclear plant: minister
[LONDON] The British government said Monday it is considering directly investing in a nuclear power station project planned by Japanese giant Hitachi in Wales.
Business Secretary Greg Clark told parliament that Hitachi and the government have decided to enter into negotiations over the Wylfa Newydd plant on the island of Anglesey.
"This is an important next step in the project, although no decision has been yet taken to proceed," he said.
He noted that Britain's spending watchdog and MPs had recommended changes to the way the controversial Hinkley Point nuclear project was financed, after warnings that much of the cost will fall on consumers.
"For this project the government will be considering direct investment alongside Hitachi and the Japanese government agencies and other parties," he told MPs.
Hinkley, a £19.6-billion (S$34.9 billion) project in southwest England between French energy giant EDF and China General Nuclear Power Corporation (CGN), is under construction but not expected to be completed until the mid 2020s.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil jumps, equities fall as Iran blasts fan Middle East tensions
Gold set for fifth weekly gain as geopolitical risks buoy demand
Oil holds near 3-week low as US sanctions interrupt easing tensions
Seatrium unit ordered to pay US$108 million in arbitration over equipment supply contracts
BP reshapes its leadership team as some executives leave
BHP to decide on future of nickel business by August, trims met coal estimates