Hitachi seeks to resurrect Welsh nuclear plant plans

FINANCIAL TIMES 🔒| Hitachi is talking to the UK government about resurrecting plans for a nuclear power plant in north Wales, which were frozen at the start of last year.

Horizon Nuclear Power, a UK-based subsidiary of Hitachi, has been holding “detailed conversations” with the government in recent weeks to persuade ministers that the proposed Wylfa Newydd plant on Anglesey could be quickly re-mobilised if they can produce a new financing model for large nuclear power stations in Britain.

Hitachi suspended the £20bn Wylfa project at the start of 2019 after failing to reach an agreement over financing. The Japanese group decided at the time the project still posed “too great a commercial challenge”, despite the UK government offering to take a one-third equity stake and provide debt financing.

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