NuGeneration

NuGeneration Limited
Industry Nuclear power
Founded 2009
Headquarters Manchester, UK
Products Electricity
Owner Toshiba
Engie
Website www.nugeneration.com

NuGeneration (NuGen) is a company with plans to build a new nuclear power station nearby the Sellafield nuclear site in the United Kingdom. The proposed site is called Moorside, and is to the north and west of Sellafield.

History

NuGen was established in February 2009 as a joint venture between ENGIE (formerly GDF Suez), Iberdrola and Scottish and Southern Energy (SSE). The initial holdings in NuGen were ENGIE and Iberdrola each with 37.5% and SSE with 25%.

The company announced plans to build a new nuclear power station of up to 3.6GW capacity adjacent to the Sellafield complex in North West England. In October 2009, it purchased an option to acquire land around Sellafield from the Nuclear Decommissioning Authority for £70 million. The company will make a final investment decision in 2015 with a view to starting production in 2023.[1] When it began, NuGen evaluated building either two Areva 1,650 MWe EPR or three Westinghouse 1,100 MWe AP1000 reactors.[2]

In September 2011, SSE announced that it was leaving the consortium, with ENGIE and Iberdrola buying SSE out to increase their stakes to 50% each.[3]

In December 2013, Toshiba, through its Westinghouse subsidiary, agreed to pay £85 million for Iberdrola's 50% share of NuGen.[4] Toshiba also intends to purchase part of ENGIE's stake, giving it 60% ownership.[5] The change in ownership will cause the chosen new build reactor to the Westinghouse 1,100 MWe AP1000,[6] with a target first operation date of 2024.[5]

In June 2014, Toshiba and ENGIE announced plans for three AP1000s at Moorside at a cost of at least £10 billion. The build is planned to start in 2020, with a target of having the first reactor operating in 2024. Sandy Rupprecht, who had headed development of the Westinghouse AP1000 reactor, will be the new chief executive of NuGen.[7] The final investment decision will probably be made in 2018.[8]

In 2015, NuGen re-located its headquarters to Manchester.[9]

In July 2015, NuGen purchased the land near Sellafield it had an option on, approximately 200 hectares, for an undisclosed sum.[10]

See also

References

  1. ↑ "The cautious strategy of the third UK new-build consortium". Nuclear Engineering International.
  2. ↑ "FAQ - Which reactor design does NuGen favour?". NuGeneration. Retrieved 3 July 2013.
  3. ↑ "Scottish and Southern Energy ends nuclear power plan". BBC.
  4. ↑ "Iberdrola to sell stake in NuGen nuclear consortium to Toshiba". The Guardian. Reuters. 23 December 2013. Retrieved 31 December 2013.
  5. 1 2 "First AP1000 at Moorside online by 2024, Westinghouse says". Nuclear Engineering International. 14 January 2014. Retrieved 15 January 2014.
  6. ↑ "Toshiba nears majority stake in UK nuclear project- CEO". Reuters. 26 December 2013. Retrieved 31 December 2013.
  7. ↑ Stanley Reedjune (30 June 2014). "Toshiba and GDF Suez Push Ahead on British Nuclear Plant". New York Times. Retrieved 30 June 2014.
  8. ↑ "Nuclear deal boosts Cumbria's Moorside plant plans". BBC. 30 June 2014. Retrieved 30 June 2014.
  9. ↑ "NuGen is on the move...". NuGeneration. 2 February 2015. Retrieved 28 March 2016.
  10. ↑ "NuGen acquires land for Moorside project". World Nuclear News. 14 July 2015. Retrieved 26 July 2015.

External links

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