Utility Week points to a press report that shows untried French nuclear reactors are not the only game in town for the UK, as it increasingly struggles to ‘keep the lights on’.
Korea Electric Power Corporation (Kepco) is close to investing in the £10 billion Moorside nuclear plant in Cumbria, the Financial Times has reported.
Sources said progress has been made towards a potential equity stake for Kepco as well as possible role in construction. The company is 51 per cent owned by the South Korean government, which has set the target of becoming the world’s third largest nuclear reactor exporter by 2030.
The Moorside project is currently a joint venture between Engie and Toshiba. It will use three AP1000 reactors supplied by Westinghouse – the US-subsidiary of Toshiba. With a total capacity of up to 3.8GW, once operational it will meet around 7 per cent of the UK’s electricity needs.
A spokesman for NuGen said: “NuGen does not comment on speculation about discussions with potential investors into our Moorside Project.”
In May it was revealed the first of the reactors will not be up and running until the end of 2025, and not in 2024 as previously thought.
Author: Tom Grimwood