The future of the £10bn Moorside nuclear power station in Cumbria has been thrown into doubt yet again after South Korean state-owned Kepco lost its preferred bidder status to buy Toshiba’s UK nuclear project called NuGen. Toshiba told Kepco last month that it made the decision in order to “have opportunities to negotiate with Kepco as well as other companies”. Kepco was chosen as preferred bidder last December but delays in concluding the deal – including a change of chief executive at Kepco and a new government in Seoul – have meant 100 staff at the site have been laid off after the sale was plagued by delays. Kepco was chosen as preferred bidder ahead of China General Nuclear. Last month, a report to the government by the National Infrastructure Commission said the UK should only proceed with the construction of one more nuclear power plant after Hinkley Point C prompting concern the advice would spook overseas investors. The NIC said up to 90% of energy should be renewable by 2050 instead.
Building 6th Aug 2018 read more »