NuGeneration
| NuGeneration Limited | |
|---|---|
| legal form | Limited Company |
| founding | February 2009 |
| resolution | Planned for 2019 |
| Reason for dissolution | Toshiba withdraws from nuclear power in the UK due to high losses |
| Seat | Cumbria , England , UK |
| Branch | electricity |
| Website | www.nugeneration.com |
NuGeneration (NuGen) is a liquidated Toshiba subsidiary that originally planned the Moorside Project, a new nuclear power plant on the Sellafield site in the UK. Up to 3 Westinghouse AP1000 reactors were intended . Since Westinghouse applied for Chapter 11 bankruptcy protection in March 2017 due to problems on its US construction sites Virgil C. Summer 2 & 3 and Vogtle 3 & 4 , the continuation of the project had been extremely questionable for some time.
NuGen was founded in February 2009 as a joint venture between GDF Suez (now Engie) (37.5% of the shares), Iberdrola (37.5% of the shares) and Scottish and Southern Energy (SSE) (25% of the shares). In the course of time, all founders left.
In October 2009, NuGen bought an option to purchase land at Sellafield for £ 70 million . The seller of the option was the Nuclear Decommissioning Authority . NuGen stated that it wanted to make the final investment decision in 2015 and possibly start producing electricity in 2023.
The company was led in 2010 by Alfio Vidal (Iberdrola) ("chief nuclear director") and Olivier Carret (GDF Suez) (COO = chief operating officer). Tom Samson has been Chief Executive Officer (CEO) since June 1, 2015.
In September 2011 (six months after the start of the Fukushima nuclear disaster ), SSE announced that it would leave the consortium and sell half of its shares to GDF Suez and Iberdrola.
In 2017 Toshiba owned 60% and Engie the remaining 40% of NuGen. On April 4, 2017, Engie requested Toshiba under an agreement to sell its NuGen shares to Engie or to acquire Engie's shares. On July 29th, Toshiba announced that it had completed the acquisition of Engie's shares and that it is now the sole owner of NuGen.
In November 2018 Toshiba announced that it would withdraw from the Moorside nuclear power plant project and, in this context, wind up NuGeneration by January 2019. Toshiba gave the reasons for leaving NuGeneration that it had not found a bidder for NuGeneration while the company had already made £ 400 million in losses.
Web links
Footnotes
- ↑ The cautious strategy of the third UK new-build consortium ( Memento of the original from April 2, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (NEI = Nuclear Engineering International)
- ↑ The cautious strategy of the third UK new-build consortium ( Memento of the original from April 2, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (NEI = Nuclear Engineering International)
- ↑ The Telegraph: [1]
- ↑ Archived copy ( memento of the original dated February 27, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ BBC: Scottish and Southern Energy ends nuclear power plan
- ↑ http://world-nuclear-news.org/C-Toshiba-completes-NuGen-acquisition-26061701.html
- ^ UK nuclear power station plans scrapped as Toshiba pulls out . In: The Guardian , November 8, 2018. Retrieved November 8, 2018.
