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Areva and China Guangdong Nuclear Power Group pull out of UK’s nuclear power project

British nuclear plans suffer blow as Chinese investors pull out Two new nuclear projects in the UK suffer as firms in running to buy a stake pull out Terry Macalister and Adam Vaughan The Guardian,  3 October 2012 The government’s nuclear energy plans were in trouble on Wednesday with Chinese investors withdrawing interest in two projects and local councils postponing a decision on hosting atomic waste storage.

Areva, the French nuclear engineering group, confirmed that it had pulled out of the running to buy a stake in Horizon Nuclear Power, the enterprise planning to construct new reactors at Wylfa in Wales and Oldbury in Gloucestershire. Areva said its partner, the state-owned China Guangdong Nuclear Power Group (CGNPC), had also shelved its

This is a blow for the government because Areva is the most advanced with getting regulatory approval for the design of its European Pressurised Reactor (EPR) while the Chinese are considered to have the deepest pockets.

Two other bidders, one involving US based engineering group
Westinghouse and the other led by Hitachi of Japan, are still in the
running to take a stake in Horizon – although Westinghouse’s backer,
another Chinese state-owned firm, China National Nuclear Power
Corporation, is also understood to have withdrawn from the
Some British MPs and commentators had raised questions about the
wisdom of allowing Chinese state firms access to sensitive UK energy

There have also been reports that Iberdrola, the Spanish group that
owns Scottish Power, is considering dropping out of a separate
consortium bid to build a new nuclear plant near Sellafield in
Cumbria, while France’s EDF was said to be struggling to complete work
on a generic design assessment it needs in order to proceed with
building a new atomic power station in collaboration with Areva at
Hinkley Point in Somerset…….
Meanwhile the government’s hopes of proceeding with much-delayed plans
for a high level waste repository in the one area of Britain that has
shown any appetite for such a scheme were also set back.

This week, three councils, Cumbria county and Allerdale and Copeland
districts, delayed a decision on new nuclear waste sites – due in
October – until January.


October 4, 2012 - Posted by | business and costs, UK

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