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Britain’s “nuclear renaissance” in the balance as Hitachi ponders Wylfa nuclear project

Times 27th May 2018 , The fate of a £15bn-plus nuclear power station is set to be decided this
week — and with it the future of Britain’s atomic renaissance.

The Japanese industrial giant Hitachi is due to decide Monday whether to
proceed with Wylfa. Hitachi’s decision has huge implications for
industrial collaboration between Britain and Japan and the country’s
nuclear power industry.

The project hinges on winning financial support
from Westminster. This weekend, ministers are expected to set out their
offer to Hitachi in a letter ahead of the crucial meeting. The proposal is
expected to include UK taxpayers taking a direct stake in the plant,
alongside Hitachi and the Japanese state, as well as guaranteeing loans. In
return, Westminster wants Hitachi to substantially undercut on price the
£20bn Hinkley Point plant in Somerset, which is being built by EDF.

TheFrench company struck a deal with the government for a guaranteed payment
of £92.50 per megawatt hour for 35 years. Ministers are expected to make
an announcement once they return from this week’s parliamentary recess.
They will herald it as an example of the type of post-Brexit trade deal
Britain can expect.
https://www.thetimes.co.uk/edition/business/deadline-day-for-japans-hitachi-over-wales-15bn-horizon-nuclear-plant-mdxhnj9x8

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May 30, 2018 - Posted by | politics, UK

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