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China’s State Nuclear Power Technology Corporation (SNPTC) wanting to take over Britain’s Moorside nuclear project?

Times 21st May 2017 A Chinese state-owned power giant has set its sights on the £15bn nuclear plant planned for the Cumbrian coast. State Nuclear Power Technology Corporation (SNPTC) is considering investing in Toshiba’s troubled NuGen
project at Moorside — risking a collision with Theresa May and her new interventionist approach to foreign takeovers.

Industry sources said a delegation from SNPTC and its parent, State Power Investment Corporation, was due in London. Eight senior officials will meet executives from NuGen and Britain’s atomic power trade body, the Nuclear Industry Association, on Tuesday.

It is unclear whether the election hiatus will hinder meetings with Whitehall officials. The talks underline China’s ambitions in nuclear power after another state-owned giant, China General Nuclear, bankrolled the £18bn Hinkley Point plant in Somerset. CGN took a 33% stake in Hinkley but its ultimate ambition is to build a power station, fuelled
with its own home-grown reactors, at Bradwell in Essex.

Sources said SNPTC could seek to power NuGen with its own reactor — a derivative of Westinghouse’s AP1000 model, which is planned for the site. SNPTC could not be reached for comment. NuGen said it was exploring a “universe of
options” for investment.   https://www.thetimes.co.uk/edition/business/chinese-eye-rescue-of-nuclear-plant-qlj09k5wn

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May 22, 2017 - Posted by | business and costs, China, politics international, UK

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