British firms get lift from sale of Horizon nuclear power project

BRITISH firms cashed in on the sale of Horizon Nuclear Power yesterday, as Babcock and Rolls-Royce won contracts to help Hitachi deliver its new build nuclear power project in the UK.

Engineering support services company Babcock and power systems provider Rolls-Royce will help Hitachi with manufacturing, engineering and technical services at two sites in the UK.

Japanese electronics company Hitachi yesterday confirmed its purchase of Horizon Nuclear Power from German firms RWE and E.ON to develop much-needed power plants in the UK.

The contract involves building two or three 1,300 MW plants in Anglesey and Gloucestershire. The first unit will become operational in the first half of the 2020s.

Up to 6,000 jobs will be created at each site, Hitachi estimated, with the possibility of a further 1,000 permanent jobs at each site at the start of each operation.

Lawrie Hayes, president of nuclear at Rolls-Royce, said yesterday: “Hitachi is a recognised leader in the global nuclear industry and its acquisition of Horizon is a major step forward for the UK in securing its long term, low carbon energy needs.”

Rolls-Royce shares closed 0.06 per cent up yesterday, while Babcock closed up 1.57 per cent.