Name and Location
Moorside nuclear power station project, West Cumbria, England.
Client
NuGeneration (NuGen), a joint venture between Toshiba and GDF SUEZ.
Project Description
The project aims to develop a new-generation nuclear power station, comprising three Westinghouse AP1000 reactors, with a capacity of up to 3.4 GW on land to the north and west of the Sellafield complex. This will make the project the largest new nuclear construction project in Europe and the biggest nuclear output from a single UK power station.
Value
Not stated.
Duration
A final investment decision on the project is expected in 2018.
NuGen is aiming for the first reactor to be on line by 2024 and for all three units to be connected by the end of 2026.
Latest Developments
NuGen has signed a cooperation agreement with HM Treasury to promote financing for the Moorside nuclear power plant.
The agreement establishes a process to enable access to the UK Guarantee Scheme. The scheme was introduced in 2012 to accelerate investments in major infrastructure projects, and is a key component of any future financing structure for new low-carbon power plants.
NuGen and HM Treasury will work together to investigate how the scheme can support the arrangement of external project finance for Moorside.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
NuGen, tel +44 0203 003 3330 or email info@nugeneration.com.