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£10bn Moorside nuclear power plant plunged into further doubt

Moorside nuclear bidder stripped of preferred status, Construction News, 3 AUGUST, 2018BY BINYAMIN ALI 

The £10bn Moorside nuclear power plant has been plunged into further doubt after Korean energy firm Kepco lost its preferred bidder status to develop the scheme.

The plant’s current developer Toshiba is now looking at alternative options for the future of the site after negotiations with Kepco failed to reach a conclusion.

Kepco looked to have saved the embattled project when it swooped in December last year and was named preferred bidder ahead of China’s CGN.

Toshiba said this week that a sale to Kepco was still on the table and it was in “consultation with stakeholders including the UK government” to find a solution.

The protracted negotiations have also forced NuGen, Toshiba’s Moorside development body, to restructure its business………

the National Infrastructure Commission last month called on government to withhold financial support for all but one of the planned new nuclear projects until at least 2025.

The commission said the government should focus on investing in renewable energy projects instead, some of which are now being built with no government subsidies. https://www.constructionnews.co.uk/markets/sectors/nuclear/moorside-nuclear-bidder-stripped-of-preferred-status/10033902.article

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August 4, 2018 - Posted by | business and costs, politics, South Korea, UK

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