Review of Toshiba’s delayed British nuclear plant raises new doubts
London — Delays to the planned sale of Toshiba’s NuGen nuclear project in Britain have prompted a review of the roles of 60 direct employees, who are mainly based in Manchester, raising further doubts over its future. The plant in Moorside, northwest England, was expected to provide about 7% of Britain’s electricity when built but has faced several setbacks after Toshiba’s nuclear arm, Westinghouse, went bankrupt in 2017. Following the Westinghouse bankruptcy, NuGen joint venture partner Engie pulled out of the project, leaving the Japanese firm searching for investors. Toshiba put NuGen up for sale and South Korea’s Korea Electric Power Corporation (Kepco) was chosen as preferred bidder in 2017, but the process has stalled. Britain needs to invest in new capacity to replace ageing coal and nuclear reactors that are due to close in the 2020s, but new plants have struggled to get off the ground due to high costs and weak electricity prices. "Toshiba has pursued a sale of NuGen to Kep...
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