A Chinese nuclear power giant is exploring a bid for Toshiba’s troubled £15bn reactor project on the Cumbrian coast. China General Nuclear Power Corporation (CGN) is keen on taking control of NuGen, which plans a 3.8 gigawatt plant capable of powering up to 6m homes. CGN wants to use this country as a showcase for its HPR1000 reactor technology, which it hopes to export around the world. The reactor is being assessed by Britain’s nuclear watchdog, a process that typically takes several years. A successful offer for NuGen could mean CGN holds stakes in four new British nuclear plants. The company has a 33% stake in the consortium building Hinkley Point in Somerset, a 20% holding in a scheme at Sizewell, Suffolk, and will eventually have 66.5% of a plant at Bradwell, Essex, where it will install the HPR1000 reactor. Two other bidders have already been linked with the Cumbrian project, called Moorside: the South Korean utility Kepco and China’s State Nuclear Power Technology Corporation.
Times 17th Sept 2017 read more »