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UK offers loan guarantee to Hitachi for new nuclear plant in Wales

LONDON Wed Dec 4, 2013 12:26am

http://uk.reuters.com/article/2013/12/04/uk-britain-nuclear-guarantee-idUKBRE9B300Z20131204

(Reuters) – Britain said it agreed to provide a loan guarantee to Japan’s Hitachi to help it finance a new multi-billion pound nuclear plant in Wales.

The finance ministry on Wednesday said it would offer the UK guarantee to Hitachi to help finance its planned 2,600 megawatt Wylfa station in north Wales, “subject to final due diligence and ministerial approval”.

Britain has an ambitious target to replace its ageing nuclear fleet by the middle of the next decade, and Hitachi is one of a handful of firms ready to take on high upfront costs to build new reactors.

December 4, 2013 - Posted by arclight2011part2 | Uncategorized

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