SSE has sounded a retreat on its nuclear power plans. The Scottish energy supplier announced today that it intends to sell its stake in NuGeneration to its partners in the project, GDF Suez and Iberdrola.
SSE has a 25% stake in NuGen, which plans to develop a new generation nuclear plant of up to 3.6 GW in West Cumbria.
Alistair Phillips-Davies, Generation and Supply Director of SSE, said that although nuclear is a tried and tested way of generating electricity, resources would be better deployed in areas where they have the greatest expertise.
The company has been signalling for some time that the cost and development issues of new nuclear might not be suited. Now SSE plans to focus more of its efforts on renewables.
Mr Phillips-Davies said: “We may become involved again at a future date, either as an investor or as a purchaser of electricity, but for the moment our investment plans are focused on renewable energy, gas-fired generation, including carbon capture and storage options, and alternative energy developments.”
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