Nuclear industry dead at home, but Japan tries to sell it abroad

Japanese May Invest in U.K. Nuclear, WSJ, By SELINA WILLIAMS, 30 March 12 “……-RWE and E.ON are now seeking to sell their U.K. nuclear joint venture vehicle, named Horizon, that has two sites for new atomic power stations–at Wylfa in Wales and Oldbury in Gloucestershire in central England, as well as grid connections and around 130 employees,
including technical specialists, engineers, and project development specialists….

Japanese nuclear companies such as reactor vendors Hitachi and Toshiba Corp. and nuclear developers Mitsubishi Heavy Industries are seen by many in the nuclear industry as the most likely buyers.

Stymied at home following the Fukushima nuclear disaster last March, these companies are actively seeking new markets elsewhere and the U.K. could be a good base for expansion plans in Europe. “You could see a strong Japanese team coming in–there’s not going to
be building in Japan for the forseeable future, so growth for them can only come out of exports,” said George Borovas, a nuclear lawyer and partner at Pillsbury law firm that specializes in the energy sector…..

Stumping up the billions of pounds investment required to build a new reactor, coupled with the long lead times of construction as well as the cost overruns seen at other similar projects pose a huge challenge for any company seeking the finance, especially now in these
credit-strapped times.

March 31, 2012 - Posted by Christina Macpherson | business and costs, Japan, UK