Almost seven years ago the NuGeneration (NuGen) consortium was officially established. Then consisting of France’s Engie (formerly GDF Suez), Spain’s Iberdrola and UK’s Southern & Scottish Electricity (SSE), the consortium’s plan was to make a start on its Moorside triple AP1000 reactor site in 2014. Engie’s decision this week to sell its stake in the project sees the exit of the last founding member of that original consortium, leaving Japanese conglomerate Toshiba as Moorside’s only shareholder and leaving the 2014 start date premature by at least a decade. Engie’s doubts on remaining part of Nugen were widely trailed in the media last year. The filing for bankruptcy of Toshiba’s subsidiary Westinghouse – deemed as ‘an event of default’ provided the contractual excuse the French company needed to play its ‘get out of jail’ card in order to off-load its 40% shareholding in Moorside and concentrate on energy decentralisation, district heating schemes and renewables. Citing what it saw as the ‘significant challenges’ NuGen is facing at Moorside, Engie will be paid an estimated $139M by Toshiba for the 40% shareholding.
CORE 5th April 2017 read more »
The GMB trade union said today it was “hugely concerned” about the future of the Moorside nuclear plant in Cumbria.
Energy Voice 5th April 2017 read more »
Ministers need to give leadership and provide public finance, as UK’s energy policy ‘lurches from confusion to potential chaos’, with the latest developments at the Moorside nuclear power station in Cumbria. Unite, the country’s largest union, was commenting today (Wednesday 5 April) on the news that French company ENGIE, earmarked to operate the site, has pulled out of the NuGen consortium. NuGen is a joint venture also involving Toshiba which owns the troubled Westinghouse Electric Company due to supply the three AP1000 reactors for the Moorside site, near Sellafield.
Politics Home 5th April 2017 read more »
Unite 5th April 2017 read more »