Two German companies behind nuclear new build plans in the UK are reported to have held talks with Toshiba and Areva over a cash injection worth €5bn ($7bn) in exchange for a 25 per cent stake in the plants.

EON and RWE comprise the Project Horizon consortium which wants to build four of the UK’s 12 proposed new reactors, three on the island of Angelsey and another at Oldbury.

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

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

Both companies and Toshiba declined to comment on the report.