Categorized | Nuclear Energy

Toshiba, GDF Suez complete deal for UK nuclear power consortium

Toshiba and GDF Suez completed a deal that will give Toshiba a majority stake in a consortium and help to push new builds at the Moorside nuclear power plant in England.

Toshiba completed the purchase of an additional 10 percent share in NuGeneration Ltd. (NuGen) from GDF Suez, bringing its total ownership stake to 60 percent. GDF Suez will retain a 40 percent stake in NuGen, the company that is building three Westinghouse AP1000 reactors at the nuclear plant in West Cumbria. Each reactor is expected to take four years to build and the plant is scheduled for completion by 2024 with a generating capacity of 3.4-GW. A deal has also been completed with the UK’s Nuclear Decommissioning Authority for the extension of a land option agreement for Moorside.

NuGen will begin taking a range of preparatory works, including regulatory, permitting and commercial activities before the final investment decision sometime around 2018.

Westinghouse said it will use its Springfields facility in the UK to manufacture the fuel for the AP1000 reactors. The facility currently manufactures fuel for the entire UK fleet of advanced gas-cooled reactors, and pressurized water reactor fuel for export.

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