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In secret meeting, Theresa May promises that UK will cover Hitachi’s nuclear debt for Wylfa staion

The Canary 11th May 2018 , Theresa May has reportedly just agreed to loan a Japanese firm £13.4bn to
spend on a nuclear power plant. But according to Caroline Lucas, she’s doing it “without any transparency or scrutiny”, effectively lending out public money behind closed doors.

The government has given the go-ahead for a replacement plant at the Wylfa Newydd nuclear power site on Anglesey.
It will be constructed by a consortium of three companies: Hitachi Nuclear Energy Europe, US-based Bechtel Management Company, and Japanese firm JGC Corporation (UK). Horizon Nuclear Power will oversee the £14bn project.

On 11 May, the Nikkei Asian Review reported that May has agreed to loan Hitachi $18.2bn (£13.4bn) for the project. She reportedly agreed to the loan during a meeting on 3 May with Hitachi chairman Hiroaki Nakanishi. A report in the Mainichi on 9 May said that the UK government had effectively offered to underwrite the debt.
https://www.thecanary.co/discovery/news-discovery/2018/05/11/theresa-may-has-reportedly-just-agreed-to-spend-13-4bn-on-a-nuclear-power-plant/

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May 14, 2018 - Posted by | secrets,lies and civil liberties, UK

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