collected by :Molly Tony
Toshiba’s Westinghouse Electric (WE) division, which is set to power a planned nuclear plant in Cumbria, has filed for bankruptcy protection from creditors.
“NuGen is continuing to develop its Moorside Project to deliver three Westinghouse AP1000 reactors in West Cumbria.
Image: A mock-up of the planned Moorside plant.
NuGen will continue to work alongside our technology supplier, Westinghouse, and our shareholders, Toshiba and Engie, in taking forward the Moorside development phase.”
It said: “The Chapter 11 filings have made planned supply of the AP1000 (nuclear power plant) for the UK project uncertain, and we have therefore recorded an impairment loss covering the cost of the NuGen project.”
Westinghouse files bankruptcy; raises questions about future of SC nuclear project
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referring to Westinghouse supplied the world’s first commercial pressurized water reactor 60 years ago and half the world’s 430 nuclear power reactors have Westinghouse technology.
When the Japanese giant — maker of everything from medical devices to home appliances — bought the Westinghouse nuclear business in October 2006, it declared “the dawn of a new era for nuclear energy.”
The Westinghouse bankruptcy also ends a chapter of nuclear energy diplomacy.
There are only a handful of nuclear construction contractors worldwide, and many are state-owned firms.
Many U.S. lawmakers and nuclear industry officials say the AP1000 could augur in a “nuclear renaissance” in the United States.