Japan’s Hitachi Ltd is scrapping plans to build a nuclear power plant in Wales, it said on Wednesday, dealing a blow to UK hopes to replace its aging plants.
The move leaves only France’s EDF and China’s CGN with building plans in Britain where nearly half the nuclear plants are set to shut down in the next four years.
Hitachi’s UK unit Horizon Nuclear Power failed to find private investors or secure sufficient government support for the stalled Wylfa project in Anglesey, Wales.
It was expected to provide about 6% of Britain’s electricity.
“Hitachi made this decision given that 20 months have passed since the suspension, and the investment environment has become increasingly severe due to the impact of COVID-19,” the company said in a statement.
Hitachi last year booked a writedown of 300 billion yen due to the suspension of the 3 trillion yen ($28 billion) project.
Hitachi said it would coordinate with the British government and relevant organizations regarding the handling of the planned construction sites and other matters.
“It is imperative that a way forward is found for the site, to deliver thousands of jobs… and millions of pounds of investment… while delivering secure, reliable and low carbon power,” said Tom Greatrex, chief executive of the Nuclear Industry Association.