Hitachi to withdraw completely from UK nuclear power plant plan Construction cost increases due to safety measures. It was revealed on the 14th that Hitachi has decided to completely withdraw from the new nuclear power plant design plan in the UK. Although it announced that it would freeze its business in January last year, it decided that it would not be possible to resume it. It will be decided at the board meeting held on the 16th at the earliest, and the withdrawal will be announced to the British government soon. In addition to another failure of the nuclear power export strategy advanced by the Shinzo Abe administration, it will also have a major impact on the UK’s nuclear power policy, which depends on foreign capital. In addition to the increase in construction costs such as safety measures, the British government has become unstable due to the problem of withdrawal from the European Union (EU), making it difficult to raise funds.
Mainichi 14th Sept 2020 read more »
Hitachi Ltd. is poised to withdraw from a proposed U.K. nuclear power plant, according to Japan’s Mainichi newspaper, the latest blow to the troubled project and the nation’s effort to replace its aging atomic fleet. Hitachi’s board will decide as soon as Wednesday to exit the Wylfa nuclear power project in Wales, Mainichi reported, citing an unidentified person. After suspending work on the 20 billion pound ($25.7 billion) project in January 2019 after failing to reach a financing agreement with the U.K. government, the Japanese firm recently concluded it was impossible to restart work, according to Mainichi. A Tokyo-based spokesman for Hitachi said Tuesday that the company is exploring multiple options and nothing has been decided yet.
Bloomberg 15th Sept 2020 read more »
Reuters 15th Sept 2020 read more »