icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Russia looks to nuclear power expansion in UK

Russia looks to nuclear power expansion in UK
Russia’s state-owned nuclear holding company Rosatom is considering building two atomic power stations in the UK through buying a $24 million stake in Horizon project.

Kommersant daily reports Rosatom has long been interested in the U.K. nuclear industry, but this opportunity came up as two German companies, RWE and EON, said they are willing to sell their share in the project.The Horizon project involves the building of two nuclear stations in Wales and in Gloucestershire. They are set to replace two old plants due to be decommissioned in 2012 and in 2014.Rosatom pointed out it is interested in the Horizon project, but the final decision will be made when terms of redemption will be announced, the Kommersant Daily reports. The company also announced a tender for public relations support in order to build confidence in Russia’s nuclear projects abroad.RWE and EON plan to sell their stake in the Horizon project due cost escalation and a longer than previously expected payback period. The British Department of Energy and Climate Change (DECC) is going to establish the rate of return on investment in May, which could force the Germans to quit says Kommersant.Though German energy companies promised to find buyers for Horizon as soon as possible, their decision has already raised concerns about the UK reform of the electricity market that includes building up to 12 new generation reactors. The country is set to cut 12 GW or 13% of its installed coal generating capacity in 2015 and a further 7GW of nuclear capacity by 2020 in order to reduce greenhouse gas emission.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.