A South Korean energy group is closing in on a multibillion-dollar investment in a new nuclear power station near Sellafield in the latest sign of Asian interest in Britain’s energy industry.
Korea Electric Power Corporation (Kepco) is in talks about joining the NuGen consortium planning a $10bn plant at Moorside on the Cumbrian coast alongside existing owners Toshiba of Japan and Engie of France.
The deal, if it goes ahead, would add momentum to Moorside at a time when the rival Hinkley Point nuclear power project in Somerset has been thrown into doubt by concerns about its high cost and the role of Chinese investors in the scheme.
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