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 Britain nationalises it, according to the Japanese developer that has suspended work on the £15 billion-plus project. Hiroaki Nakanishi, chairman of Hitachi, said nationalisation was “the only path” to resuming the development of the Wylfa project on Anglesey as private companies were unwilling to invest. Last week Hitachi announced it was suspending its UK nuclear venture Horizon, which was developing both the Wylfa plant and a planned sister station at Oldbury in Gloucestershire. The Japanese conglomerate took the “commercial decision” to walk away despite the British government’s offer to provide a third of the equity and all of the debt to finance Wylfa’s construction, together with a lucrative subsidy contract to guarantee its revenues.…

Source: The Times January 24, 2019 12:06 UTC