Japanese electronics giant Hitachi has put pen to paper on the deal to buy the Horizon Nuclear Power project from German energy suppliers E.ON RWE npower.
Announced last month, E.ON and RWE npower will pocket £696 million for the company which they set up in 2008.
Based in Gloucester, the UK nuclear project intends to build two to three plants nuclear power plants of around 1,300MW on two sites at Wylfa in Anglesey, and Oldbury in South Gloucestershire.
Masaharu Hanyu, Vice President and Executive Officer of Hitachi said: “Hitachi is committed to helping the UK achieve its vision of a secure, low-carbon and affordable energy supply.
“The acquisition of Horizon is the first step in this journey, which will see us strive to build a strong UK power production company and support the creation of thousands of highly skilled jobs in the UK’s energy sector. We look forward to welcoming Horizon management and employees to Hitachi and working with them on this exciting project.”
A point of pride for Hitachi when first announcing plans to buy Horizon was that four of its Advanced Boiling Water Reactors (ABWRs) have already been built in Japan “on time and to budget”.
The Japanese firm says it will now begin talks with UK regulators to get approval for the Advanced Boiling Water Reactor (ABWR) technology under the UK’s Generic Design Assessment process.
The firm says it wants to touch base with the country’s supply chain as “an early priority”.