Toshiba and GDF strike deal to build EU’s largest new nuclear project

Japan’s Toshiba and France’s GDF Suez have finalised a deal to come together and build to develop the NuGeneration nuclear power project in Cumbria, UK.

The former is to acquire a 60 per cent stake and the latter a 40 per cent stake in the largest single proposed nuclear power plant construction in Europe. The project is forecast to create between 14,000 and 21,000 jobs and cater for the provision of 7 per cent of the UK’s electricity requirements.
The NuGen company plans to build three Westinghouse AP1000 reactors in Moorside, West Cumbria, northwest England. Each reactor will take approximately four years to build.

Targeted to come online in 2024, it will have a combined capacity of 3.4 GW, enough to deliver power to six million homes.

Before the final investment decision which is forecast to be taken by the end of 2018, NuGen will be undertaking a broad range of preparatory works, including regulatory, permitting and commercial activities.

Westinghouse intends to utilise its Springfields facility, a UK-licensed fuel manufacturing facility near Preston to manufacture the fuel for AP1000 reactors built in the UK, thereby securing indigenous fuel supply.

GDF SUEZ Chairman and CEO, Gérard Mestrallet, stated: “We wish to mention and recognize the UK’s strong strategic vision and political consensus which have enabled the framework designed to ensure a secure, low-carbon electricity generation future – with nuclear energy as part of it, while remaining attractive to investors.”

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...