British Government Reportedly To Back Wylfa Newydd Loans

The British government has informed Hitachi Ltd that it would guarantee the loans required to build two new reactors at the Wylfa Newydd site in Wales, Japanese media are reporting. No official announcement has been made on the financial arrangement by the government or Hitachi.

Plans for Horizon's Wylfa Newydd Hitachi's Horizon Nuclear plans to build two reactors at the Wylfa Newydd site on the Isle of Anglesey with a minimum generating capacity of 2700 MW. A similar project is in the planning stages for a site at Shepperdine, near Oldbury in South Gloucestershire, England on the banks of the Severn Estuary. Oldbury is sometimes referred to as Oldbury-On-Severn.

The news reported by the Mainichi newspaper on Wednesday follows a meeting last week between British Prime Minister Theresa May and Hitachi Chairman Hiroaki Nakanishi. The meeting included May's request to Nakanishi that the company continue to pursue the Wylfa Newydd project, according to Reuters.

The estimated cost of the Wales project is currently at $27.4 billion with the price growing due to post-Fukushima safety requirements. 

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