Preferred Moorside bidder targets September deal for NuGen – Korean energy official. The state-owned Korean company aiming to build West Cumbria’s Moorside nuclear power plant hopes to seal a deal for NuGen by September, a senior energy official has revealed. According to the Yonhap News Agency, an anonymous official in the Korean government’s energy ministry – wary of revealing their identity due to the ongoing negotiations – set out the date for Korea Electric Power Corporation (Kepco) to acquire a 100 per cent share in the consortium. Kepco was granted preferred bidder status to acquire full control of NuGen – the consortium set up to deliver the £15 billion Moorside development – in December, following months of talks with sole shareholder Toshiba. At the time Kepco said it was hoping to complete the deal in the first half of 2018. Detailed negotiations are currently taking place between the two companies, along with the UK government and the Korean government, which holds more than 51 per cent of shares in Kepco.
In Cumbria 3rd May 2018 read more »