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.