£20bn plan to build nuclear reactors in UK 31st October, 2012 Nick Boyle
Japanese firm Hitachi has revealed it plans to invest £20bn into building at least four nuclear reactors in the UK, The Telegraph has reported.
It was announced on Tuesday that Hitachi would pay £696m to purchase Horizon – the nuclear venture put on the market in March by RWE and E.ON.
Around 12,000 jobs could be created in the construction industry if these plans go ahead, with future plans for as many as 6 reactors to be built. This, if it was to happen, could produce enough power for 14m homes for 60 years; which would significantly boost the UK’s energy security.
President of Hitachi, Hiroaki Nakanishi, said the company was making a 100-year commitment to the UK – something Prime Minister David Cameron has hailed.
It is believed Hitachi would not invest the full amount themselves, and would require financial backing. The group is still uncertain as to how much the reactors would cost, but the £20bn estimate is in relation to four reactors.