Hitachi said Thursday it would freeze construction of its stalled nuclear power station in Wales due to problems financing the project, a blow to Britain’s nuclear strategy and a costly decision for the Japanese firm. The company said in a statement the decision was made "from the viewpoint
Hitachi said Thursday it would freeze construction of its stalled nuclear power station in Wales due to problems financing the project, a blow to Britain’s nuclear strategy and a costly decision for the Japanese firm.
The company said in a statement the decision was made “from the viewpoint of Hitachi’s economic rationality as a private enterprise”.
Shelving the project at the Wylfa Newydd plant on Anglesey, a small island off the Welsh coast, will cost the Japanese firm 300 billion yen ($2.8 billion), it said.
Hitachi launched the planned construction after acquiring Britain-based Horizon Nuclear Power in 2012.
