nuclear-news

The News That Matters about the Nuclear Industry

Problems compounded for NuGen’s Moorside nuclear project in Cumbria

NuGen – which has plans for a power plant at Moorside, near Sellafield – has made the announcement following the news that troubled Japanese giant Toshiba is set to become its sole owner.

Toshiba already has a 60 per cent stake in NuGen.

After its American subsidiary Westinghouse filed for Chapter 11 bankruptcy the other shareholder, French firm ENGIE, has used legal agreements to sell its stake to Toshiba.

The Japanese company is in serious financial difficulties after it reported a 532bn yen (£3.8bn) loss for the period of April-December last year and said it had “substantial doubt” about its ability to continue as a going concern.

A NuGen spokesman said: “NuGen is undertaking a strategic review of its options following shareholder and vendor challenges……..http://www.timesandstar.co.uk/news/business/More-worries-over-Cumbrian-nuclear-new-build-31f414b5-3a08-4d50-97c8-1b76b790cca6-ds

Advertisements

May 3, 2017 - Posted by | general

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: