Toshiba to take steps to wind-up NuGeneration Limited

On 8th November 2018, Toshiba announced its intention to withdraw from the nuclear power plant construction project in the UK, NuGeneration Limited (NuGen) and to take steps to wind-up the business.

The announcement comes after 18 months of negotiations with a range of potential new owners. Unfortunately, it has not been possible to successfully conclude those negotiations.

NuGen has retained a team to support the implementation of a winding-up process and will work with Toshiba and its other stakeholders.

Whilst NuGen will not be taking the project forward, the Moorside site in Cumbria remains a site designated by Government for nuclear new build, and it is now for the Nuclear Decommissioning Authority as the owner of the site and the Government to determine its future.

NuGen would like to pay tribute to colleagues, its shareholder, Toshiba, and to the other stakeholders, and many various friends of the project both in Cumbria and beyond, who have supported NuGen’s efforts through its development phase and throughout the proposed sale negotiations.

The Toshiba statement relating to this decision is available on the Toshiba website.

2018-11-08T05:24:11+00:00November 8th, 2018|News|