Britain performs down media report of Hitachi nuclear deal

LONDON/TOKYO (Reuters) – Britain’s government on Wednesday performed down a media report that it’ll assure Hitachi Ltd’s Horizon Nuclear Power loans for the development of two reactors in Wales.

FILE PHOTO: The brand of France’s state-owned electrical energy company EDF is seen subsequent to the Electricite de France (EDF) thermal electrical energy manufacturing plant in Cordemais, France, April 21, 2016. REUTERS/Stephane Mahe/File Photo

British Prime Minister Theresa May met Hitachi Chairman Hiroaki Nakanishi final week in London and requested him to go forward with the challenge, conveying the government’s intention to completely assure the loans, Japan’s Mainichi newspaper paper mentioned, with out citing a supply.

“We don’t recognise these reports,” a spokesman for Britain’s Department for Business, Energy and Industrial Strategy (BEIS) mentioned in an emailed assertion.

“Nuclear power remains a crucial part of the UK’s energy future but we have always been clear that this must be delivered at the right price for consumers and taxpayers,” he mentioned.

Britain is searching for new methods to fund nuclear tasks after criticism over a deal awarded to France’s EDF to construct the primary nuclear plant in Britain for 20 years, which may price shoppers 30 billion kilos.

“These discussions are commercially sensitive and we have no further details at this time,” the BEIS spokesman mentioned.

FILE PHOTO: The Hunterston nuclear energy station in West Kilbride, Scotland May 15, 2013. REUTERS/Suzanne Plunkett/File Photo

Hitachi’s Horizon plans to assemble no less than 5.four gigawatts of recent nuclear capability at two websites in Britain – the primary at Wylfa Newydd in Wales, and a second at Oldbury-on-Severn in England.

Horizon mentioned the 2 tasks may generate sufficient electrical energy to energy 10 million houses and create tens of 1000’s of jobs.

“There are regular and ongoing discussions between ourselves and the UK Government on the project but we will not comment on the specifics in terms of the participants in, or content of the conversations,” a spokesman for Horizon mentioned.

The Mainichi report mentioned Hitachi continues to be pushing for the British government to take a stake within the challenge and assure electrical energy costs to make sure it’s worthwhile.

The price of the Hitachi challenge in Wales has ballooned to three trillion yen (20.2 billion kilos) because of harder security measures, the newspaper mentioned. Hitachi declined to remark, when contacted by Reuters.

Reporting by Susanna Twidale, Yoshiyasu Shida and Osamu Tsukimori; Writing by Aaron Sheldrick; Editing by Christian Schmollinger and Alexandra Hudson

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