KOREAN FIRM SCOPING WYLFA

Par­ent com­pany Hi­tachi in talks with nu­clear in­vestors

Bangor Mail - - FRONT PAGE - Chris Pyke

A KOREAN state-owned en­ergy com­pany is look­ing at buy­ing into the pro­posed £10bn Wylfa Newydd nu­clear power plant.

Korea Hy­dro & Nu­clear Power (KHNP) has, ac­cord­ing to the Sun­day Times, held talks with Hori­zon Nu­clear Power about in­vest­ments in the An­gle­sey site.

Hori­zon Nu­clear Power is a wholly-owned sub­sidiary of the Ja­panese firm Hi­tachi.

Hi­tachi has been un­will­ing to pay for the whole £10bn project on its own and has been ac­tively seek­ing in­vestors.

KHNP would be ex­pected to in­vest in Hori­zon as a mi­nor­ity share­holder and, ac­cord­ing to the re­port, is hir­ing UK ad­vis­ers.

Hori­zon has said it can “learn lessons” from last month’s crit­i­cal Na­tional Au­dit Of­fice re­port into the Gov­ern­ment deal for the new nu­clear power plant at Hink­ley Point, Som­er­set.

A Hori­zon spokesman said: “The re­port rightly high­lights both the ben­e­fits of new nu­clear and the chal­lenges that we need to ad­dress.

“We are con­fi­dent, given the tried and tested na­ture of our tech­nol­ogy and if we learn lessons from the NAO’s re­port, that we can meet these chal­lenges and de­liver at a com­pet­i­tive price.

“Our lead project, Wylfa Newydd, will be a vi­tal part of the UK’s en­ergy fu­ture, along­side other nu­clear projects as well as re­new­ables.

“We also recog­nise the need to con­tin­u­ally re­make the case for new nu­clear, in­clud­ing on cost, as the re­port sets out. The ben­e­fits of nu­clear in terms of clean, re­li­able and se­cure elec­tric­ity are clear, but these must also be de­liv­ered at a price that works for con­sumers, the Gov­ern­ment and in­vestors.”

Plans for the £10bn site

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