Hitachi to end operations on UK Nuclear Power Stations Construction Project
Hitachi, Ltd. announced that it will end business operations on the Horizon nuclear power plant construction project in the United Kingdom, which was suspended in January 2019. Hitachi made this decision given that 20 months have passed since the suspension, and the investment environment has become increasingly severe due to the impact of COVID-19.
The Horizon project was a proposal by Horizon Nuclear Power Limited, which Hitachi acquired in November 2012, to develop nuclear power stations comprising of two units of UK ABWR at Wylfa Newydd in Anglesey, North-West Wales. The plant was supposed to have at least 2.9 GW capacity and use Hitachi’s advanced boiling water reactor (ABWR).
Hitachi decided to suspend the project in January 2019, from the viewpoint of Hitachi's economic rationality as a private company because it was clear that further time was needed to decide on a financing structure for the project and the conditions for building and operating the nuclear power stations.
As a result of this decision to end business operations on the Horizon Project, Hitachi will coordinate with the UK government and relevant organizations regarding its cooperation as the owner of ABWR license and the handling of the planned construction sites and other matters. This decision is not expected to have a significant impact on Hitachi's business results as Hitachi had posted an impairment loss and other expenses of JPY294.6 billion (US$2.8 billion) on consolidated financial results for fiscal 2018, the year ending March 31, 2019, due to the suspension of the project.
The project cost was expected to have been about GBP 15 billion (USD 19.4 billion).
Country news
-
-
September 15, 2020
SP Energy Networks launches its biggest call for flexibility services
SP Energy Networks is calling for flexibility providers to get involved as it launches its largest ever tender for flexibility services in 40 HV and EHV locations across its license areas in Scotland, England, and North Wales.
Read more -
August 20, 2020
PPA signed with the world´s largest offshore wind farm
Energy trading company Danske Commodities has signed a 15-year power purchase agreement (PPA) with the world’s largest offshore wind farm, Dogger Bank, in the UK. Under the agreement, Danske Commodities will be responsible for the trading and balancing of 480 MW.
Read more -
August 11, 2020
Tender for ambitious zero-carbon smart energy city project in UK
Bristol City Leap, an ambitious project to deliver a zero-carbon, smart energy city by 2030, has re-launched a global search to deliver up to GBP 1 billion (USD 1.3 billion) of investment and provide significant economic benefits for the people of Bristol and its businesses.
Read more -
July 29, 2020
714MW offshore wind farm in UK commissioned
ScottishPower Renewables and the Green Investment Group (GIG) have fully commissioned the 714 MW East Anglia One offshore wind farm in UK waters.
Read more -
July 21, 2020
Construction of the world’s longest electricity interconnector begins
The construction phase of the Viking Link Interconnector project, a high-voltage direct-current (HVDC) link between the UK and Denmark, has commenced with Siemens Energy Ltd mobilizing to the site to start the construction of the first stage of works, a 2.4 km long access road for the Bicker Fen converter station site.
Read more
