The Japanese energy firm Hitachi has agreed to take on the UK’s nuclear project Horizon Nuclear Power, in a deal that is expected to cost £700m. The process is expected to be completed before the start of December.
The opportunity came as German companies E.On and RWE put the deal on the market in March this year. The move for Germany to back out of nuclear power engagements reportedly came about following the devastation caused at a plant in Japan in 2011.
The new project Horizon is thought to provide the UK with around 12,000 jobs, which comes at a time when unemployment in the country is still widely spread.
It is understood that nuclear plants will be built at two locations; Wylfa, Anglesey, and Oldbury, in Gloucestershire. The BBC report that the current Wylfa power station will cease its production of electricity by 2014.
According to reports, Hitachi aim to have advanced boiling water reactors there, which they already have in place at other Japanese sites.
Prime Minister David Cameron supports the venture, saying it is a way for the UK to progress.
He said: “This is a decades-long, multi-billion pound vote of confidence in the UK, that will contribute vital new infrastructure to power our economy.
“It will support up to 12,000 jobs during construction and thousands more permanent highly skilled roles once the new power plants are operational, as well as stimulating exciting new industrial investments in the UK's nuclear supply chain.
“I warmly welcome Hitachi as a major new player in the UK energy sector.”
The Energy and Climate Change Secretary, Ed Davey, also welcomes the move by the Japanese energy company, saying they can bring “decades of expertise” in the field. He told the BBC Hitachi “ are responsible for building some of the most advanced nuclear reactors on time and on budget.”
He said: “I welcome their commitment to helping build a low- carbon, secure-energy future for the UK."
It is understood that British company Rolls Royce could be involved in work on the projects.
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