Tuesday, March 31, 2020

Engie Looking for Partners in Nugen UK Nuclear Project

Posted by March 31, 2016

French gas and power group Engie is looking for other partners to invest in the Nugen project to build nuclear reactors in Britain, Engie director Philippe Pradel said.
Japan's Toshiba Corp and Engie are in the 60-40 percent Nugen joint venture to build three AP1000 reactors - designed by Toshiba unit Westinghouse in Britain - for the Moorside project, near the Sellafield nuclear site in west Cumbria.
"Before taking the final investment decision on Nugen around the end of 2018 we hope to find a larger pool of investors," Pradel said at a seminar about the French nuclear industry.
He said that for financial and industrial reasons it is important to build balanced partnerships for large nuclear projects.
In December, sources told Reuters that Toshiba had asked Japanese financial institutions to help fund the Nugen project.
(Reporting by Geert De Clercq)

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