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GMB welcomes Cumbria power plant talks

Tuesday, September 13, 2016

GMB Welcomes Investment Talks For New Nuclear Power Station In Cumbria

GMB has long campaigned for investment in a nuclear centre of excellence for Cumbria.

GMB, the union for energy workers, welcomes reports that the Moorside nuclear power plant, due to open in Cumbria in the mid 2020’s, are in talks with investors for the £10bn project. (See notes to editors for a copy of the BBC report).

Justin Bowden, GMB national secretary for Energy said, "This is welcome news for Cumbria's nuclear industry. GMB has long campaigned for investment in a nuclear centre of excellence for Cumbria that builds on the skills and expertise on tap with Sellafield just up the road.

Investment in nuclear is crucial if we want to keep the lights on when the sun doesn't shine and the wind doesn’t blow, and bridge the gap for renewables until there are technological breakthroughs in carbon capture or solar storage"

End

Contact: Justin Bowden on 07710 631351 or Chris Jukes on 07870 176733 or GMB press office on 07958 156846 or press.office@gmb.org.uk

Notes to editors

UK nuclear power station project 'in talks' for cash injection

Dan Macadam, 12 September 2016

http://www.bbc.co.uk/news/business-37337994

The developers behind Europe's biggest new nuclear power station are in talks with potential overseas investors for the £10bn project in Cumbria.

Joint venture group Nugen said it was talking to banks and foreign nuclear firms about the plant, which aims to supply power for six million homes.

"There is a universe of options open to us," Nugen said.

A final investment decision on the site, to be built near the Sellafield nuclear complex, is due in 2018.

"We are talking to potential investors familiar with the nuclear industry, including banks, credit-export agencies and nuclear companies in countries interested in nuclear new build projects," a Nugen spokesperson told the BBC.

Among those interested in joining the project in Moorside is the state-controlled Korea Electric Power Corporation (Kepco), according to the Financial Times.

The South Korean firm, which was caught up in a forgery scandal three years ago, is looking at taking a stake in Nugen and helping with construction, according to the newspaper.

A deal with existing owners, Toshiba of Japan and Engie of France, would boost Moorside at a time when rival nuclear plans at Hinkley Point have been thrown into question.

Prime Minister Theresa May has said she will determine this month whether to go ahead with Hinkley Point after kicking back a decision.

Moorside is designed to provide up to 3.8 gigawatts of power - compared to Hinkley's 3.2 gigawatts - but is still years behind the French energy firm EDF in securing financing and regulatory approval.

It aims to employ up to 21,000 workers over the lifetime of the project and provide enough power for 7% of the UK's electricity requirements when the reactors are switched on in the mid 2020s.

The three reactors would be provided by Westinghouse, the US subsidiary of Toshiba which supplies about half of the world's operating nuclear plants.

Nugen hopes to tap into the existing infrastructure at nearby Sellafield, which employs more than 10,000 staff and claims to have the largest concentration of nuclear expertise in Europe

 

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