Strong signal for new nuclear
Chief Executive of the Nuclear Industry Association, Keith Parker, welcomed the news that the Chief Secretary to the Treasury, Danny Alexander MP has signed an agreement with Hitachi and Horizon to support the financing of the development of Wylfa's new nuclear power station.
Keith Parker said: “This is excellent news for the people of North Wales, for the UK supply chain and for the country as a whole. This announcement reinforces the Government's commitment to new nuclear as having a major role in Britain's clean energy infrastructure for decades to come.
“Nuclear power is a clean, reliable and affordable source of electricity. Major infrastructure of this kind requires large upfront capital investment. Government guarantees in financing these projects will help keep overall costs down to the benefit of the consumer.
“We are also delighted to see that Horizon Nuclear Power has today announced important strategic contracts with three major UK based companies for the provision of engineering and related technical services.”
The government has confirmed that it has entered into a cooperation agreement with Hitachi and Horizon with the aim of being able to agree an in-principle guarantee by the end of 2016 to support the financing of a new nuclear power plant at Wylfa Newydd, subject to final due diligence and ministerial approval.
Horizon Nuclear Power estimates that at a minimum of 2,700MW, the Wylfa Newydd power station will produce enough low carbon energy for up to three million homes.
