South Korea shows interest after Toshiba scraps UK nuclear project
Japan’s Toshiba said on Thursday it would scrap a British nuclear plant project after failing to find an investment partner, but South Korea indicated it was still interested in building a reactor at the site. The Moorside project in northwest England was expected to provide about 7% of Britain’s electricity, but faced setbacks after Toshiba’s nuclear arm Westinghouse went bankrupt last year. It was part of Britain’s efforts to build a new fleet of nuclear reactors to replace ageing coal and other nuclear plants due to close in the 2020s. New projects have struggled due to high costs and weak electricity prices. “Whilst NuGen will not be taking the project forward, the Moorside site in Cumbria remains a site designated by government for nuclear new build,” NuGen, the Toshiba business in Britain, said in a statement. “It is now for the Nuclear Decommissioning Authority as the owner of the site and the government to determine its future.” NuGen had been trying to sell its business for...
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