Dec 15 Toshiba's U.S. unit Westinghouse
is close to announcing plans to buy Spanish utility Iberdrola's
50 percent stake in British nuclear consortium NuGen for over
100 million pounds ($163 million), the Financial Times reported,
The Japanese-owned engineering group will announce the move
within days, the paper said on its website, citing people close
to the talks. ()
NuGen, a joint venture of Iberdrola and French utility GDF
Suez, owns a site at Sellafield on the remote northwest
coast of England where it plans to build 3.6 gigawatt of nuclear
A source told Reuters in September that Iberdrola had been
in talks to sell off its stake in NuGen to Westinghouse.
Iberdrola declined to comment, while Toshiba could not be
reached outside of regular business hours.
Winning a majority stake in NuGen would give Toshiba a
foothold in pro-nuclear Britain, where Hitachi Ltd,
Japan's other nuclear technology supplier, acquired the Horizon
nuclear project last year and is planning to build two to three
nuclear power plants.
If confirmed, the Westinghouse-NuGen agreement would come
two months after Britain's energy secretary approved a deal
with French utility EDF Energy to build the 16 billion
pound Hinkley Point atomic power plant in Somerset.
EDF's long-time Chinese partners, China General Nuclear
Corporation and China National Nuclear Corporation, will take a
combined stake of 30 to 40 percent in that consortium, while
French state-owned nuclear group Areva will take 10 percent.
France's GDF Suez will hold on to its 50 percent share in
NuGen, the FT said.