Proposals to a build a nuclear plant in Cumbria appear to be abandoned after the Toshiba - owned consortium behind it laid off 60 % of staff . The Japanese company was set to sell NuGen to South Korean state - owned company Kepco , as Toshiba has worldwide nuclear projects . But Kepco has delayed a final decision , partly due to the UK government re - examining its approach to UK nuclear projects . NuGen now wants to sign a deal by the end of 2018 , but success will rely on Kepco buying into the government 's regulated asset base model . That threw a spanner in the works for Kepco, which was planning on a financing model similar to Hinkley Point C, where developer EDF Energy was awarded a guaranteed price for electricity in return for taking on all the construction risk. Toshiba is set to write off the unit next year .
Proposals to a build a nuclear plant in Cumbria appear to be abandoned after the Toshiba - owned consortium behind it laid off 60 % of staff . The Japanese company was set to sell NuGen to South Korean state - owned company Kepco , as Toshiba has worldwide nuclear projects . But Kepco has delayed a final decision , partly due to the UK government re - examining its approach to UK nuclear projects . NuGen now wants to sign a deal by the end of 2018 , but success will rely on Kepco buying into the government 's regulated asset base model . Toshiba is set to write off the unit next year .