Related News
CGN eyes equity in UK鈥檚 NuGen
Print Edition
China General Nuclear Power Corporation is bidding to make an equity investment in a planned British nuclear plant, the future of which was thrown into doubt earlier this year amid mounting financial woes at its developer Toshiba Corp.
Chinese interest comes at a time when Britain is looking to replace aging coal and nuclear plants set to shut in the 2020s but struggling to do so given the costs involved. If CGN鈥檚 investment goes through, it will give the firm, China鈥檚 largest nuclear power operator, stakes in four British nuclear plants.
鈥淲e are willing to utilize our experience in nuclear design, construction and operation for more than 30 years to support the development of Britain鈥檚 nuclear industry,鈥 CGN said in a statement to Reuters yesterday.
It did not further elaborate on its proposed investment in NuGeneration, which plans to build three nuclear reactors at the Moorside site on the coast of Cumbria, northwest England, in a project valued at US$15 billion to US$20 billion.
NuGen plans to build the reactors using technology from Toshiba鈥檚 bankrupt US-based nuclear arm Westinghouse. The technology is currently being assessed by Britain鈥檚 nuclear regulator. The three reactors will have a total generating capacity of up to 3.8 gigawatts, covering around 7 percent of Britain鈥檚 electricity demand.
NuGen was set up as a 60-40 percent joint venture between Toshiba and Engie. But earlier this year, the French utility sold its stake to Toshiba after Westinghouse filed for bankruptcy.
Toshiba said at the time it was looking for more investors to join the Moorside project or to sell out altogether.
British newspaper The Times on Monday first reported CGN was exploring an investment in NuGen.
The Shenzhen-based group already has a 33.5 percent stake in Hinkley Point C nuclear power station project, Britain鈥檚 first new nuclear plant to be built in decades.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
