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Hitachi waiting for tax-payer funding, to start nuclear projects in UK

Horizon waiting for chance to restart new-build projects, WNN 19 August 2020  Horizon Nuclear Power has been holding “detailed conversations” with the UK government in recent weeks to persuade ministers that the proposed Wylfa Newydd plant on Anglesey could be quickly re-mobilised if they can produce a new financing model for large nuclear power plants in Britain, according to an article in the Financial Times on 16 August. A decision on Wylfa’s planning application is expected by the end of next month.Horizon announced the suspension of its new-build projects in January 2019. The UK subsidiary of Japan’s Hitachi said it had made substantial progress with its plans to provide at least 5.4 GWe of new capacity across two sites – Wylfa Newydd, in north Wales, and Oldbury-on-Severn, in southwest England – by deploying Hitachi-GE UK advanced boiling reactors.

The UK government is currently considering the Regulated Asset Base (RAB) model for new nuclear projects. This would allow investors to start making a pre-determined return as they invested, but any new policy would require primary legislation and the whole process of developing and then enacting a new policy would likely take a minimum of 18 months…….

August 20, 2020 - Posted by | politics, UK

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