Plans to build Europe’s largest new nuclear project have taken a step forward after Toshiba and GDF Suez signed a deal to develop the the Moorside site, next to Sellafield. The Japanese engineering giant will take a 60% stake in Nugen, the joint venture set up to develop the plant, with the French energy company taking a 40% stake. The plan is to build three AP1000 reactors at Moorside. Final investment decisions should be made in about four years, Nugen said. “The Moorside new nuclear project will bring at least £10bn of investment and is expected to create up to 21,000 jobs, while also providing a reliable source of low carbon energy for over six million homes,” said Energy Minister Michael Fallon. “This announcement is a significant step towards new reactors likely to come online in 2024 and shows how attractive the UK is for investors.”
Moorside takes another step
Share