(Corrects SEPT 12 story to show NuGen joint venture includes
Toshiba, not Toshiba unit Westinghouse, paragraph 4)
LONDON, Sept 12 State-controlled South Korean
electric power utility KEPCO is closing in on
investing in a 10 billion-pound ($13 billion) project in Britain
to construct a new nuclear power plant near Sellafield,
northwest England, the Financial Times said on Monday, citing
sources close to the negotiations.
The Korea Electric Power Corporation has resumed talks about
joining the Nujen project consortium after negotiations stalled
three years ago and is mulling taking an equity stake and a role
in constructing the new Moorside Power Station, the FT said.
No further details on the investment were given.
NuGen, a joint venture between Toshiba and French utility
company Engie, plans to build three AP1000 reactors
at the Moorside site on the coast in Cumbria and expects
electricity generation to start in 2025.
"We are looking for investors and are talking to a wide
range of people," said a spokesman for NuGen when contacted by
Reuters, declining to comment on whether talks were taking place
Engie declined to comment.
NuGen is expected to have a generating capacity of up to 3.8
gigawatts when all three reactors are completed, around 7
percent of Britain's total electricity demand.
It is racing to supply the country with its first new
operating nuclear plant in a generation.
The consortium is competing with French power utility EDF's
18 billion-pound Hinkley C project in Somerset,
southwest England, which is no longer certain to go ahead since
the intervention of the UK's new prime minister Theresa May.
($1 = 0.7536 pounds)
($1 = 0.7547 pounds)
(Reporting by Tina Bellon in Frankfurt, Karolin Schaps in
London and Geert de Clerq in Paris; Editing by Greg Mahlich)