Toshiba’s NuGen eyed by China General Nuclear Power - report
17 SEP 2017
China General Nuclear Power Corporation (CGN) [HKG: 1816] is weighing the acquisition of Toshiba[TYO:6502]’s GBP 15bn (USD 20bn) Moorside nuclear reactor project in the UK, The Sunday Times reported. The unsourced report said the Chinese nuclear power group, which has already invested in three other British nuclear projects, is eager to take over NuGeneration, the entity which is developing Moorside.
CGN wants to establish its HPR1000 reactors in the UK, with the aim of then selling the technology to the rest of the world, the item reported.
China-based State Nuclear Power Technology Corporation and Korea Electric Power Corporation(KEPCO) [KRX:015760] are also linked to potential investment in Moorside, the report noted.