Hitachi has completed the acquisition of Horizon Nuclear Power Limited from RWE npower and E.ON UK.
Hitachi owns two sites at Wylfa, Anglesey, and Oldbury, South Gloucestershire and says it plans to build two to three c1,300MW nuclear power plants at each of the sites.
Hitachi will now begin discussions with UK regulators to obtain approval to use Advanced Boiling Water Reactor (ABWR) technology under the UK’s Generic Design Assessment process.
ABWR technology is the only advanced nuclear technology (Generation III) in operation in the world and is licensed for use in several countries including the U.S, with four ABWRs having already been successfully built in Japan, on time and to budget.
Hitachi said an early priority would be supply chain engagement and both national and regional events are expected to be held in early in 2013.
“Hitachi is committed to helping the UK achieve its vision of a secure, low-carbon and affordable energy supply,” said Masaharu Hanyu, Vice President and Executive Officer, CEO of Nuclear Systems and General Manager of Nuclear Systems Division, Power Systems Company, Power Systems Group, Hitachi.
“The acquisition of Horizon is the first step in this journey, which will see us strive to build a strong UK power production company and support the creation of thousands of highly skilled jobs in the UK’s energy sector.
“We look forward to welcoming Horizon management and employees to Hitachi and working with them on this exciting project.”
Hitachi, which announced that it would buy Horizon in late October, said it hopes to have the first reactor operational by the mid-2020s.
The government hopes that Horizon will eventually include up to six nuclear power plants, which would be able to provide 14 million homes with electricity for 60 years.
Hitachi paid RWE npower and E.ON a combined £696 million for the Horizon project and has said that it is in discussions to find another company to operate the plants after they are built.
The UK's power generation infrastructure is ageing and in need of modernisation to meet future demand and carbon reduction targets.