A state-owned South Korean energy firm is to take over construction of a troubled nuclear power station planned in north-west England, in a significant boost for the UK government’s nuclear ambitions. Foreign companies flock to build nuclear plants in the UK Read moreKepco has emerged as the winner in a two-horse race between state-owned nuclear firms eyeing expansion overseas. Kepco and CGN are both looking to the UK after nuclear plant construction orders dried up globally in the wake of the 2011 Fukushima disaster. The government is likely to say it will look into ways of reducing the costs of financing new-build nuclear projects and confirm funding for a new generation of mini nuclear power plants, known as small modular reactors. In return, the industry will promise to cut the costs of cleaning up old nuclear plants by a fifth and slash the costs of building new nuclear power stations by 20%-30% over a decade.

Source: The Guardian December 06, 2017 14:31 UTC