Horizon Nuclear Power has announced it will be ceasing its activities to develop two projects in the UK following a decision by Japanese giant Hitachi to pull out of the scheme.
Work to install a huge power link cable between Shetland and the Scottish mainland is expected to get underway later this month after the main contractors were appointed.
Unions have urged the Government to step in and help take Wylfa forward, after plans for the multibillion-pound new nuclear power station were suspended.
Japanese conglomerate Hitachi confirmed it will halt work on its nuclear power projects in the U.K. and said it will take a one-time charge amid a shift away from reactor sales.
Growing fears are being expressed about a planned new nuclear power station after a report that the project is going to be put on hold.
Japanese conglomerate Hitachi Ltd. will halt work on a nuclear power project in the U.K. and take a one-time charge as negotiations with the British government over funding stalled, the Nikkei reported. Shares in Tokyo rallied the most in more than two years.
Hitachi Ltd. is making its biggest ever acquisition by agreeing to purchase the power grid division of ABB Ltd., a deal that’s aimed at turning the Japanese conglomerate into a top global provider of equipment for electricity networks.
Plans for two new nuclear power stations have taken a “major leap forward” after a reactor design was approved by regulators.
Plans to build a nuclear power station in Wales have taken an “important“ step forward with the announcement of a delivery team for the £10 billion project.