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Britain’s nuclear regulator approves Westinghouse nuclear reactor (despite Westinghouse bankruptcy!)

Westinghouse wins UK reactor approval from nuclear regulator, Reuters,  30 Mar 17 , By Susanna Twidale and Nina Chestney | LONDON Toshiba’s (6502.T) Westinghouse, which filed for bankruptcy on Wednesday, has won approval for its AP1000 reactor design, Britain’s nuclear regulator said on Thursday.The Office for Nuclear Regulation (ONR) approval is needed before the design can be used at NuGeneration Ltd’s (NuGen) Moorside new nuclear project in north west England, which consists of three AP1000 units.

“The closure of our assessment of the generic design of the AP1000 reactor is a significant step in the process, ensuring the design meets the very high standards of safety we expect,” Richard Savage, ONR’s chief nuclear inspector, said.

We will now focus our regulatory attention on site specific assessments, and NuGen’s application for a nuclear site license,” he added in a statement.

Westinghouse’s bankruptcy filing has raised questions over whether it will be able to complete capital intensive projects……

Britain ……has struggled to get large projects built, especially nuclear, due to the costs involved.EDF’s (EDF.PA) 18 billion pound ($22.5 billion) Hinkley Point C nuclear project in southwest England got the final go-ahead in 2016 after several years of delay, but only after securing backing from the French government.

NuGen, a joint venture between Toshiba and French utility Engie (ENGIE.PA) has also come under doubt since Japan’s Toshiba said last month it planned to pull out of the construction work at the British plant after posting a $6.3 billion writedown on Westinghouse, which has been hit by billions of dollars in cost overruns at new nuclear plants……http://www.reuters.com/article/us-toshiba-westinghouse-britain-idUSKBN1711E6

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March 31, 2017 - Posted by | politics, UK

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