17 Jan 2019

Hitachi suspend work on planned nuclear plant in Anglesey

A major nuclear power project in North Wales has collapsed because of massive borrowing costs, which the Japanese firm Hitachi couldn’t afford – and the British government would only partially cover.

This programme has been told that Hitachi needed to borrow £9 billion for the project to succeed. But the company calculated it would have to fork out another £9 billion to fund the loan. And that kind of financial burden simply proved too much.