South Korean firm announced as preferred bidder at Moorside

South Korea’s state utility has been announced as the preferred bidder for Toshiba’s nuclear project in the UK. The Korea Electric Power Corporation (Kepco) has reached a provisional agreement to buy the subsidiary NuGen, which is responsible for developing the Moorside nuclear project in Cumbria. It beat away competition from China General Nuclear Power Corporation […]

China’s CGN eyes second nuclear power deal in UK

A Chinese nuclear energy developer is exploring a bid to invest in a nuclear power station under construction in Cumbria. CGN, which already owns a large stake in the Hinkley Point C facility, hopes to buy an equity stake in Toshiba’s 3.4GW NuGen Moorside project. A CGN spokesperson said: “CGN has accepted the invitation to […]

Toshiba caps liability for nuclear plant at $3.7bn

Toshiba has capped its liability for a nuclear power plant in Georgia, US, at $3.7 billion (£2.9bn). Georgia Power has entered into new agreements with the Japanese technology giant, which is parent company of Westinghouse, the now bankrupt contractor on the Vogtle nuclear plant. The agreement, approved by the US Department of Energy (DoE), affirms […]

National Grid puts Moorside nuclear transmission line on hold

National Grid has halted development consent for the transmission line connecting a new proposed nuclear power station at Moorside. A spokesperson told ELN it has paused the approval process for the £2.8 billion connection project following developer NuGen’s decision to carry out a “strategic review”. A total of 21 companies in the area applied to […]

Is Toshiba putting Cumbrian nuclear plant on hold?

Toshiba is reportedly preparing to put its nuclear power plant in Cumbria on hold. Reports claim its joint venture NuGen, which is developing the project, has warned suppliers it will have to cut spending due to its Japanese owner’s financial issues. Earlier this year it insisted Toshiba “remains committed” to the project, which is expected […]

UK nuclear project faces uncertainty as ENGIE pulls out

French energy company ENGIE is selling its stake in the venture behind a proposed new nuclear power station in Cumbria. It intends to sell its 40% shares to Toshiba, which owns the remainder of NuGen – the UK-based nuclear energy company that plans to build three Westinghouse reactors at Moorside. Toshiba is to pay ¥15.3 […]

UK regulators approve Westinghouse nuclear reactor

A reactor designed by Toshiba’s nuclear unit has been approved by UK regulators. The Office for Nuclear Regulation (ONR), the Environment Agency (EA) and Natural Resources Wales (NRW) said they are satisfied the reactor meets expectations on safety, security and environmental protection. The approval is needed before Westinghouse can use the reactor at NuGeneration’s (NuGen) […]

Indonesia’s new 110MW geothermal plant opens

One of the world’s largest geothermal power plants has started producing power in Indonesia. Technology suppliers Toshiba and Ormat have announced the first unit of the Sarulla power plant, located in North Sumatra, has gone into commercial operation. Operated by Sarulla, the 110MW power plant combines flash and binary technologies to optimise efficiency and re-inject 100% of the used geothermal fluid. Toshiba […]

Toshiba’s US nuclear unit files for bankruptcy

Toshiba’s US nuclear unit Westinghouse Electric Company (WEC) has filed for bankruptcy protection. It is seeking to undertake a strategic restructuring “as a result of certain financial and construction challenges in its US AP1000® power plant projects”. Toshiba and the WEC Group are working with the owners of the two sites in Georgia and South […]

Toshiba chairman quits after £2.7bn nuclear loss

The chairman of Toshiba has resigned from his post after the Japanese company reported a net loss of ¥390 billion (£2.7bn) in the year to March 2017. The losses are said to be linked to a deal done by its US subsidiary Westinghouse Electric, when it bought a nuclear construction and services business from Chicago […]