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[Machine Translation] On April 4, it was learned that Hitachi’s nuclear power plant construction project in the UK was on the sunk. Hiroaki Nakanishi, chairman of the company, said in an interview in this interview, “We are recruiting investors but few companies respond,” he said. The plan is carried out by Hitachi’s subsidiary, Horizon Nuclear Power, and it collects the construction cost of the power plant etc. by selling revenue income. However, due to nuclear safety measures, the total project cost has expanded, and the purchase price of electricity generated is likely to be kept low, so there is a question mark on the profitability of the project. Hitachi negotiates with Japanese and English governments and companies seeking support from loans and investment to reduce risk. Of the total project cost 3 trillion yen, the UK has set a promise to finance 2 trillion yen, but it is extremely difficult to procure the remaining one trillion yen covered by capital. In an interview, Nakanishi said in an interview “It is difficult if all of the investment is not in place.”

Diamond 5th Dec 2018 read more »

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Published: 6 December 2018