Kepco has held discussions about developing Wylfa Newydd site on Anglesey
The Kepco chief executive visited the Wylfa Newydd site in November as part of a South Korean delegation looking at UK nuclear opportunities.The Kepco chief executive visited the Wylfa Newydd site in November as part of a South Korean delegation looking at UK nuclear opportunities.Kepco, the largest utility provider in South Korea, has held early-stage discussions with Westminster officials about developing the Wylfa Newydd site on the island of Anglesey , the Financial Times reported.
The government is aiming to revive the project as part of its plans to generate 24 gigawatts of energy from nuclear by 2050, a significant increase from the 6GW currently produced.In March this year the chancellor, Jeremy Hunt, confirmed that the UK government had reached a £160m agreement with Hitachi to buy Wylfa and the site of the Oldbury plant in Gloucestershire, with the hope of finding new investors.
The Department for Energy Security and Net Zero said: “Wylfa has excellent potential and we welcome the interest of all parties who are looking to invest in UK nuclear projects.” The American nuclear developer Westinghouse and the construction group Bechtel have proposed building a new plant at Wylfa using Westinghouse’s AP1000 reactor technology.Get set for the working day – we'll point you to all the business news and analysis you need every morningKepco would be aiming to use its APR1400 reactor technology, which has recently been deployed at the Barakah nuclear energy plant in the United Arab Emirates.
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