Korean firm eyes a stake in the Horizon nuclear power plant in Wales

 
Courtney Goldsmith
Follow Courtney
Industrial Electronics Maker Hitachi Takes Over The UK's Horizon Nuclear Project
The 5.4 gigawatt Horizon station would provide electricity for about 10m homes in the UK (Source: Getty)

A Korean state-owned company is said to be in early talks to buy a stake in the £10bn Horizon nuclear power plant in Wales.

Korea Hydro & Nuclear Power (KHNP) is eyeing a slice of the nuclear plant on Anglesey, which is being developed by the Japanese firm Hitachi, the Sunday Times has reported.

The move is the latest development for Britain's new generation of power stations, which have faced mounting concerns as costs swell and delays put the UK's energy supply at risk.

KHNP, a subsidiary of Korea Electric Power Corporation (Kepco), is likely to invest in Horizon as a minority shareholder along with the governments of Japan and Britain.

The firm is understood to be hiring advisers in the UK.

A Horizon spokesperson said:

We have always been clear that we are looking to bring other investors into Horizon.

Based on the strengths of our project, we are in positive discussions with a number of parties but we will not be commenting on the process whilst it is ongoing.

The 5.4 gigawatt power station would provide electricity for about 10m homes in the UK.

Meanwhile, Kepco is in talks to buy a stake in troubled Japanese conglomerate Toshiba's huge NuGen nuclear plant in Moorside, Cumbria.

KHNP could not be reached for comment.

Read more: Hitachi's nuclear unit has applied for a site licence for the Wylfa plant

Related articles