KEPCO selected as preferred bidder for Moorside nuclear project

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The world's fifth largest nuclear developer has emerged as the preferred bidder to buy a stake in the project from Toshiba, the only remaining company within the Nugeneration consortium backing the project.

Over the next few months, Kepco plans to negotiate with Toshiba to acquire undisclosed share in NuGen.

It is the second time KEPCO won a contract for the construction of nuclear power plants overseas.

When asked about the resignation, before the end of his term in March 2018, Cho said in a statement: "Although I spent a lot of time thinking [about whether I should resign] before a massive task of winning orders for nuclear reactors in the United Kingdom, I am happy that I can step down after I could see the daylight". Toshiba's Westinghouse was initially expected to provide the reactor technology which already has GDA approval.

Mrs Harrison, said: "The recent announcement that KEPCO is bidding for NuGen is encouraging news".

NuGen spokesman said: "NuGen and its shareholder Toshiba are exploring a range of options for funding the Moorside project, which includes Toshiba selling some or all its shareholding in NuGen". Toshiba acquired Westinghouse Electric Company in 2006 for US$5.4 billion, but recently made a decision to withdraw from the nuclear power industry after incurring losses. It was initially hoped electricity generation would begin by 2025.

Kepco representatives have travelled to Japan for direct talks with the chief executive of Toshiba, which now owns NuGen outright. The construction of the reactors with a total capacity of approximately 3 GW is scheduled to be completed in 2030.