Work on the Wylfa plant in North Wales has been suspended despite the offer of government subsidies CHRISTOPHER FURLONG / GETTY IMAGESA proposed nuclear plant in Wales can only be saved if it is nationalised by Britain, according to the Japanese developer that has suspended work on the £15 billion-plus project. Hiroaki Nakanishi, chairman of Hitachi, said “nationalisation is the only path” to resuming the development of the Wylfa project on Anglesey because private companies were unwilling to invest. Hitachi announced last week that it was suspending its UK nuclear venture, Horizon, which was developing the Wylfa plant and a planned sister station at Oldbury in Gloucestershire. The Japanese conglomerate took the “commercial decision” to walk away despite the offer of the UK government providing a third of the equity and all of the debt to finance Wylfa’s construction, together with a lucrative subsidy contract to…

Source: The Times January 24, 2019 12:00 UTC