The British Nuclear Decommissioning Authority has agreed key commercial terms with NuGen, the joint venture of GDF SUEZ and Toshiba, to extend a land option agreement that reaffirms the consortium’s commitment to build three nuclear reactors at Moorside in West Cumbria (United Kingdom). NuGen aims to develop up to 3.4 GW of new nuclear capacity, enough to supply up to 6 million British homes.
NuGen initially grouped Scottish Power (37.5%), SSE (25%) and GDF SUEZ (37.5%). SSE sold its 25% stake to GDF SUEZ in February 2012. In late 2013, Iberdrola (50%) sold its stake to Toshiba, which acquired an additional 10% from GDF SUEZ in January 2014. The Moorside plant capacity would be up to 3.4-3.6 GW, consisting of two Areva EPRs or three Westinghouse AP1000. The Final Investment Decision will be taken around 2015, with the aim of starting the construction of a new power station by 2017 with commissioning in 2023-2024.
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