Toshiba slashes 7000 jobs, pulls out of British nuke plant

Lloyd Doyle
November 10, 2018

The NuGen project in Cumbria in northwest England was to comprise three reactors and was due to start producing energy from 2025.

A Business Department spokesman said: "We understand that Toshiba have faced a hard decision in ending their involvement in new nuclear projects outside of Japan in light of their well-known financial challenges".

In a statement from Tokyo, it said: "After considering the additional costs entailed in continuing to operate NuGen, Toshiba recognises that the economically rational decision is to withdraw from the United Kingdom nuclear power plant construction project, and has resolved to take steps to wind up NuGen".

Toshiba has confirmed it is withdrawing from plans to build a nuclear power station in Cumbria.

A Department for Business, Energy and Industrial Strategy spokesperson said: "We understand that Toshiba have faced a hard decision in ending their involvement in new nuclear projects outside of Japan in light of their well-known financial challenges".

The Japanese firm has been attempting to sell the NuGeneration consortium behind the planned Moorside plant in West Cumbria but has failed to find a buyer with today marking a major blow for the United Kingdom government which has big ambitions to develop nuclear power.


In a statement yesterday, it said it was "unable to anticipate" a sale for NuGen despite negotiations taking place with investors, which included Korean state-owned utility Kepco and Canadian asset management company Brookfield.

The Moorside site in Cumbria remains a site designated by Government for nuclear new build, it now passes to the Nuclear Decommissioning Authority as the owner of the site and the Government to determine its future. It is also devastating for the employees of NuGen who have worked so hard for the past decade to deliver a new nuclear project which would have delivered energy for generations to come.

Unions have criticised the government for failing to intervene and ensure the project went ahead. "For months now, I have been calling on the Government to back Moorside in the way that they've given their backing to other new nuclear projects across the country". "The Government's failure to offer support for the project has meant the loss of thousands of future jobs in West Cumbria, and that is utterly unacceptable". They failed to even mention nuclear in their 2017 election manifesto. "This week, in my role as co-chair of the all party group for nuclear energy, I'm in China meeting with senior representatives of China General Nuclear Power Group. CECA has long campaigned for new nuclear as a vital component of the mixed portfolio of electricity generation the United Kingdom will need as we transition towards a low-carbon economy".

"We sincerely hope that a solution for Moorside can be found to fill the inevitable gap that our wind-up will create in those communities across Cumbria and more widely across the Northern Powerhouse".

The move resulted in NuGen reducing its team of 100 to 32 as it focused on helping Toshiba find a buyer, with chief executive Tom Samson vowing to "fight tooth and nail" to salvage the project.

Other reports by Iphone Fresh

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