Hitachi ‘to pull the plug’ on Anglesey’s Wylfa Newydd nuclear power project next week

Proposed new nuclear plant, Anglesey [image credit: walesonline]

Nuclear projects seem recently to have become an endangered species in the UK.

The future of the planned Wylfa Newydd nuclear power station on Anglesey is shrouded in uncertainty after Hitachi responded to a report that construction would be suspended by saying that “no formal decision” had been taken.

The Nikkei Asian Review reported that Hitachi plans to put the project on hold because funding negotiations with the UK Government have “hit an impasse”, says Wales Online.

It claimed that the “deadlock looks set to sink Japan’s last overseas nuclear project”.

Hitachi confirmed it has been assessing the “potential suspension” of the project.

“No formal decision has been made in this regard currently, while Hitachi has been assessing the Horizon Project including its potential suspension and related financial impacts in terms of economic rationality as a private company,” said a spokesman.

“Should any matter arise which needs to be disclosed, Hitachi will announce the information in a timely manner.”

The Financial Times reported: “According to people familiar with financing discussions for the Wylfa plant, a lack of firm investor commitments means Hitachi can no longer keep putting money into the so-called Horizon project and will announce it is to pull the plug at a board meeting next week.”

The future of the planned Wylfa Newydd nuclear power station on Anglesey is shrouded in uncertainty after Hitachi responded to a report that construction would be suspended by saying that “no formal decision” had been taken.

The Nikkei Asian Review reported that Hitachi plans to put the project on hold because funding negotiations with the UK Government have “hit an impasse”.

It claimed that the “deadlock looks set to sink Japan’s last overseas nuclear project”.

Hitachi confirmed it has been assessing the “potential suspension” of the project.

“No formal decision has been made in this regard currently, while Hitachi has been assessing the Horizon Project including its potential suspension and related financial impacts in terms of economic rationality as a private company,” said a spokesman.

“Should any matter arise which needs to be disclosed, Hitachi will announce the information in a timely manner.”

The Financial Times reported: “According to people familiar with financing discussions for the Wylfa plant, a lack of firm investor commitments means Hitachi can no longer keep putting money into the so-called Horizon project and will announce it is to pull the plug at a board meeting next week.”

Continued here.

via Tallbloke’s Talkshop

http://bit.ly/2M8AiXE

January 12, 2019 at 10:57AM

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