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No banker or insurer would touch Wylfa nuclear power project – only UK bailout can save it

Greenpeace 11th May 2018 , In response to reports in the Japanese media that the UK government has
agreed to guarantee all the 2 trillion yen of loans necessary for Hitachi to build a reactor at Wylfa, and further requests from the company for the government to take a multi-billion pound stake in the project, Hannah Martin, Head of Energy at Greenpeace UK, said –

“No bank, hedge fund or insurer will touch the UK’s new nuclear programme with a bargepole. So
Hitachi have no option but to ask the government for a taxpayer bailout to keep their collapsing reactor programme afloat.

This would leave the British public to carry much of the cost and all of the risk. Any prudent investor would laugh at this request. After the Hinkley debacle, it’s vital that the government stops trying to keep our energy policy a secret and presents any offer of a deal to Parliament before the Hitachi board meeting at the end of May. Otherwise it’s difficult to know where theirgenerosity to the nuclear industry might end.”


May 14, 2018 - Posted by | general

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