South Korean firm to buy into Moorside nuclear project

Credit: NuGen

A South Korean firm says it's in talks to buy a stake in the consortium developing the proposed Moorside nuclear power station in west Cumbria.

A senior executive of state-owned Kepco, rumoured to be interested in Moorside, has said the firm will be a 'long-term partner' in the project.

The project had been in jeopardy after Toshiba, who own 60% of NuGen, expressed "substantial doubt" about its ability to continue as a going concern because of multi-billion pound losses.

Kepco's chief nuclear officer told a conference in London today that his company was in negotiations with Toshiba to buy into NuGen.