Industry sources said the recent appointment of Thames Tideway’s former chief financial officer, Mark Corben, at the business department was a “very positive sign” that the government has swung behind the approach. Proposals to a build a nuclear plant in Cumbria appear to be collapsing after the Toshiba-owned consortium behind it laid off 60% of staff. The Japanese company was set to sell NuGen to South Korean state-run company Kepco, as Toshiba quits worldwide nuclear projects. A spokesman for the Department for Business, Energy and Industrial Strategy said: "We are aware that there is an issue with the proposed Hinkley Point C project which has been referred by EDF Energy." 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 March.
Proposals to a build a nuclear plant in Cumbria appear to be collapsing after the Toshiba-owned consortium behind it laid off 60% of staff. The Japanese company was set to sell NuGen to South Korean state-run company Kepco, as Toshiba quits worldwide nuclear projects. A spokesman for the Department for Business, Energy and Industrial Strategy said: "We are aware that there is an issue with the proposed Hinkley Point C project which has been referred by EDF Energy." 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 March.