Hitachi ‘withdraws’ from £20bn nuclear project

Posted: September 16, 2020 by oldbrew in Energy, News, Nuclear power
Tags: ,

Proposed new nuclear plant, Anglesey [image credit: walesonline]


Unless this scheme is revived, the UK government is putting even more pressure on its ridiculous and damaging ‘net zero’ energy policy. The likely gap between future electricity supply and demand seems wider than ever.

H/T Hatter Eggburn
– – –
Plans for a £15-£20bn nuclear power plant in Wales have been scrapped, reports BBC News.

Work on the Wylfa Newydd project on Anglesey was suspended in January last year because of rising costs after Hitachi failed to reach a funding agreement with the UK government.

Isle of Anglesey council said the company had now confirmed in writing it is withdrawing from the project.

Council leader Llinos Medi said: “This is very disappointing, particularly at such a difficult time economically.”

Hitachi shelved the scheme, the biggest energy project ever proposed in Wales, over funding issues.

Anglesey council said it had received a letter from the Tokyo-based parent company confirming its decision.

Developer Horizon Nuclear, which is owned by Hitachi, said it would not comment.
. . .
Analysis by BBC Wales business correspondent Brian Meechan

As one of Wales’ biggest proposed construction projects, Wylfa Newydd has faced turbulent times.

The company behind it, Hitachi, has always been concerned about the costs of building the new nuclear power plant.

The UK government went some way in offering financial support to the project but it wasn’t enough to satisfy Hitachi’s concerns over the financial risks.

The UK government also held a consultation on plans that would see energy customers pay upfront for the costs of construction.

The industry has been waiting for months for an outcome to that.

When the UK government said nuclear was part of its push for green energy, the industry thought it was a positive sign for Wylfa Newydd.

But critics question how green nuclear energy really is, not to mention how safe it is.

Wales has been called the “land of artists’ impressions” with many big schemes that are talked about and never happen.

Full report and analysis here.

Comments
  1. oldbrew says:

    If it’s too expensive to build next to an old nuclear power site, where isn’t it too expensive?

    https://en.wikipedia.org/wiki/Wylfa_Nuclear_Power_Station

  2. wilpretty says:

    By underwriting renewable energy providers profits, the Government have ensured that no other energy provider will do anything unless their profit is guaranteed also.
    My domestic electricity prices were increased by 12% yesterday.

  3. JB says:

    Any technology is unsafe when operated outside its design parameters. That’s a management problem, present in every disaster. 30 yrs of having to do Root Cause Analysis on tech product failure has always led back to people trying to cut corners, don’t understand the consequences thereof, ending up hurting people and causing major property damage.

  4. cognog2 says:

    This is potentially disastrous. The whole nuclear mindset is in a mess being riddled with misconceptions generated largely by the Green Activists. This has led to curtailment of nuclear R&D over a long period and has prevented development of the small, modular, molten salt reactors with their inherently safe and cost effective potential.
    We are fiddling while our power requirements are being ignored. The whole mindset needs a kick up the backside.

  5. oldbrew says:

    Britain’s Nuclear Future In Limbo as Investors Walk Away
    Date: 17/09/20 Bloomberg

    The cancellation of a British nuclear project heaped yet more pressure on the government to find a way to build the low-carbon power source that’s seen as a crucial part of the nation’s future energy mix.
    . . .
    Just three years ago, the government anticipated building 18 gigawatts of nuclear power stations to replace the old plants. Now EDF’s Sizewell C is left as the sole project most likely to be built.

    As for the rest of the nuclear fleet, they’re aging and facing early closures that will see 4 plants disappear by March 2024. That will leave a generation gap that needs to be filled.

    https://www.thegwpf.com/britains-nuclear-future-in-limbo-as-investors-walk-away/
    – – –
    Another hole in the ‘net zero’ policy.

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