What now for Moorside?
With Toshiba almost certain to pull out of nuclear construction projects outside of Japan following its write-down of $6.3bn debt from its Westinghouse US nuclear business and being a 60% majority stakeholder in NuGen, the Joint Venture with French ENGIE (formerly GDF-SUEZ), what now for the proposed nuclear new build plant scheduled for Moorside, in Cumbria?
Toshiba's exit will be an initial hammer blow to the Government's nuclear renaissance, with generation scheduled to come on-line after Hinkley Point C and Newydd Wylfa mid-2020's, as well as to the local Cumbrian economy so it will be interesting to see how the Government go about safeguarding its construction by securing new investment, most likely from Russia (Rosatom), South Korea (Kepco) and China.
With all coal stations closing by 2025, up to 8 nuclear reactors from EDF's existing fleet at Hinkley Point B, Hunterston B, Hartlepool and Heysham 1 scheduled to close between 2023 - 2026 and the Government's strict 2030 emissions goals, if the Government fail to find suitable investors for Moorside its cancellation could have a far broader impact on the UK's longer term capability than we may initially think.
south humber bank power station
7 年well anothet blow to the energy sector .about time the government got its hand in its pockets and brought back the CEGB to secure future generations of employment and training.
Operations Manager at Doosan Babcock
7 年Just when we thought things couldn't get any worse.
An experienced, candidate focused talent acquisition professional looking for my next remote career opportunity
7 年Another great thought provoking article Gary Dickens, it is indeed worrying times as renewable are really not advanced enough to provide the reliable low cost, low carbon power we need from 2020 onwards, modern safe Nuclear Power is the only option, what we really need is the UK government to put its hand in its pockets and start investing in all our futures.
Rigger/Erector
7 年Why can't we find BRITISH investment??? All these politicians and engineering leaders and scientists should pull their fingers out to make this a British investment! Every other country owns britains infrastructure! No wonder we arnt known as GREAT Britain no more!