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Chinese CGN interested in UK nuclear project

Staff Writer |
China General Nuclear Power Corporation, known as CGN, said it will bid to invest in a financially troubled 15 billion pound($20.35 billion) nuclear power station planned for Cumbria, in Northwest England.

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Known as Moorside, the power station is projected to generate 3.8 gigawatts of power, which is enough to power up to 6 million homes in the United Kingdom.

Huang Xiaofei, a spokesman for CGN, said the company will bid to make an equity investment in NuGeneration, the company behind Moorside.

"We are willing to utilize our more than 30 years of experience in nuclear design, construction and operation to support the UK's nuclear industry development," Huang said.

NuGeneration, which is more commonly known as NuGen, was a 60-40 percent joint venture between Japan's Toshiba and France's Engie.

Earlier this year, Engie quit the consortium by selling its 40 percent stake to Toshiba for $139 million, after witnessing Toshiba's nuclear arm Westinghouse file for bankruptcy.

Engie's quitting of the consortium triggered Toshiba to contemplate selling NuGen.

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