Horizon Nuclear buys Welsh land for new power stations

Horizon Nuclear Power has completed the purchase of land in Wales where it hopes to build a new power station.

Horizon, a joint venture between German companies RWE and EON, has bought the land at Wylfa on the island of Angelsey, where it hopes to build up to 3.3 GW of new nuclear capacity.

Kevin McCullough, chief operating officer of RWE said: “The land agreement is a key milestone in Horizon’s plans for a new nuclear power station at Wylfa. New nuclear will have an essential role in the UK’s low carbon future, and RWE npower is committed to playing a part in this through Horizon Nuclear Power.”

Horizon wants to build four of the UK’s 12 proposed new nuclear reactors, three on Angelsey and another at Oldbury in England.

Earlier this week the company was reported as having held talks with Toshiba and Areva over a cash injection worth €5bn ($7bn) in exchange for a 25 per cent stake in the plants.

The two reactor designs on the UK new build shortlist are Areva’s EPR and the AP1000 from Westinghouse, which is owned by Toshiba.

According to the Financial Times, Horizon held talks with both companies regarding an equity stake. Such an investment would help both partners, with EON committed to cutting €1.5bn a year until 2015 while RWE has pledged asset sales of €11bn by 2013.

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