The company building a new nuclear power plant in Cumbria said Toshiba “remains committed” to the project.

NuGen is to continue to progress plans to develop the 3.8GW power station at Moorside, near Sellafield, which would provide 7% of the UK’s electricity needs.

Toshiba has a 60% share in NuGen, a joint venture with France’s ENGIE.

The news comes as the Japanese firm’s chairman resigned from his post after it reported a loss of ¥390 billion (£2.7bn) in the year to March 2017.

The losses are said to be linked to a nuclear deal done by its US subsidiary Westinghouse Electric.

NuGen said: “NuGen acknowledges the announcement that Toshiba’s review into the future of its nuclear power business outside Japan is complete and that it remains committed to developing NuGen’s Moorside Project.”

CEO Tom Samson added the project has made “significant progress” since Toshiba took over as major shareholder in 2014.