Hitachi Poised to Exit U.K. Nuclear Power Project Wednesday
- Board decision on exit from project expected to be ratified
- U.K. government due to decide on financing model for nuclear
This article is for subscribers only.
Hitachi Ltd. is poised to withdraw from a proposed U.K. nuclear power plant, according to three people familiar with the plans, in another blow to the troubled project and the nation’s effort to replace its aging atomic fleet.
Hitachi’s board will decide as soon as Wednesday to exit the Wylfa nuclear power project in Wales, the people said. Work was suspended on the 20 billion-pound ($26 billion) project in January 2019 after failing to reach a financing agreement with the U.K. government and the Japanese firm recently concluded it was impossible to restart work. The news was first reported Tuesday by Japan’s Mainichi newspaper.