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Moorside nuclear power station project in doubt
01/02/2017

Moorside nuclear power station project in doubt | Construction Enquirer

Plans to build Europe’s biggest nuclear power station in West Cumbria are now in serious doubt after a key Japanese investor said it was pulling out of overseas investment.

Moorside nuclear power station project in doubt | Construction Enquirer

Engineering giant Toshiba, which owns Westinghouse, intended to build three of its AP1000 reactors at the proposed power station complex, near to Sellafield.

The site was to generate 3.8GW, making it the engine for the Northern Powerhouse.

Toshiba, which owns a controlling stake in the Moorside nuclear station developer NuGen, is considering axing projects outside of Japan after running up vast losses estimated to run to billions of dollars.

These stem from losses on existing nuclear construction projects and write downs from Westinghouse’s purchase of CB&I Stone & Webster – a US construction firm that specialises in nuclear power projects.

 

Over the last year extensive site investigation has been undertaken alongside a massive public consultation exercise over Moorside.

Moorside nuclear power station project in doubt | Construction Enquirer

Presently NuGen is working on its business case for a final investment decision to be taken by the end of 2018.

That now looks unlikely after Toshiba revealed it was canning overseas nuclear power station investment and even looking at the option of selling Westinghouse if it can find a buyer.

Toshiba President Satoshi Tsunakawa said the firm would release more details with its third quarter results on 14 February.