The Japanese government is considering providing Hitachi with loans through the Japan Bank for International Cooperation (JBIC) and the Development Bank of Japan for the development of Hitachi's Horizon nuclear power project in the United Kingdom. In addition, Nippon Export and Investment Insurance would provide credit insurance, while Japanese and British financial institutions could provide additional capital. The financial aid would total Yen 1,000 bn (US$8.7bn).
Horizon Nuclear Power, a fully-owned subsidiary of Japanese group Hitachi, plans to invest £19bn (€23bn or US$24bn) in the construction of the Wylfa Newydd nuclear project in Wales (United Kingdom). The United Kingdom could finance at least 25% of the project, with Hitachi financing 10%. The project would consist of up to four Advanced Boiling Water Reactors (ABWRs) with a combined capacity of around 5,400 MW on the site of the former 980 MW Wylfa nuclear power plant.
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