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Wednesday, February 21, 2024
    HomeMoneyBritain goals to revive plans for nuclear power station in Wales

    Britain goals to revive plans for nuclear power station in Wales

    Plans for a nuclear power plant in Wales are set to be revived after the Government confirmed it desires to take control of a key site in North Wales. 

    Great British Nuclear, a taxpayer-backed body, is in early-stage discussions with Hitachi over acquiring land in Wylfa, Anglesey, which could pave the way in which for constructing a brand new nuclear power station.

    Potential for a deal comes five years after the Japanese manufacturer scrapped plans for a nuclear plant in Britain, with the location in query now price roughly £200m, as reported by the Financial Times. 

    If ministers proceed with the deal, it’s going to be with the view of finding a brand new private backer to collaborate on the project.

    Wylfa was one in every of eight locations previously earmarked for nuclear development in 2010.

    Roughly 14pc of the UK’s power was supplied by nuclear plants in 2022, although all but one in every of the present reactors are set to shut by the top of the last decade. 

    Plans to exchange Britain’s ageing fleet of reactors have suffered setbacks lately after delays and budgeting problems across flagship projects at Hinkley Point and Sizewell C.

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