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Toshiba to join the NuGen consortium with 60% stake

21 Jan 2014
Toshiba is expected to replace Spanish utility Iberdrola and join the NuGen consortium.

This comes after Toshiba’s acquisition of a 60% stake in the project to build the Moorside nuclear power plant near Sellafield in West Cumbria.

Iberdrola is pulling out and has agreed to sell its 50% stake for $139 million.

The additional 10% will come from Toshiba’s separate agreement with GDF SUEZ and will total Toshiba’s stake in NuGen at 60%.

Plans for the Moorside site have been made by Toshiba to move forward with the construction of three Westingouse AP1000 nuclear reactors with a combined capacity of 3.4GW.