Horizon welcomes step forward on GDA

Horizon Nuclear Power has welcomed confirmation that DECC has asked the nuclear regulators to begin formal discussions with Hitachi-GE Nuclear Energy, Ltd., (Hitachi-GE) regarding the Generic Design Assessment (GDA) of the UK Advanced Boiling Water Reactor (ABWR).

An application to DECC was made by Hitachi-GE earlier this month.

Horizon Chief Operating Officer Alan Raymant said: “This is a major step forward at an early time in Hitachi’s ownership of Horizon. GDA is one of the key processes necessary to allow development of new nuclear power stations at Wylfa and Oldbury.”

“GDA is a rigorous and demanding process that ensures the safety case for the technology is robust. We are committed to supporting Hitachi-GE and developing Horizon’s ABWR expertise throughout the process. The ABWR is a proven technology which we believe will bring significant benefits to the UK.”

Discussing Horizon’s longer term plans Raymant said: “We look forward to setting out more detail on our strategy and programme in the next few months.”

Horizon welcomes Energy Bill publication

Horizon Nuclear Power has welcomed publication of the Energy Bill, and the accompanying Contract for Difference operational framework.

Horizon Chief Operating Officer Alan Raymant said: “We’re extremely pleased to see publication of the Energy Bill. This process is critical in allowing developers to progress projects which will provide the secure, sustainable and affordable energy which the UK needs”.

Raymant said: “Today’s Bill marks an important step towards implementation of EMR, and the operational framework provides important additional detail on the future market structure”.

“We now need to see the Bill progress on schedule, and look forward to seeing final detail on market reform measures. This will be crucial in developing a clear and effective electricity market; providing stable, affordable prices for consumers and long-term certainty for investors”.

Horizon completes transition to Hitachi

Horizon Nuclear Power, the developers of a proposed new nuclear power station at Oldbury, have welcomed completion of the company’s purchase by Hitachi Ltd of Japan, after agreement was reached with shareholders E.ON and RWE.

The company its assets and its staff have now been acquired by Hitachi as a going concern.

Horizon Chief Operating Officer Alan Raymant said: “We’re delighted that the deal has completed. It secures the future of Horizon, and represents a huge economic opportunity for South Gloucestershire”.

“Our project at Oldbury will represent a multibillion pound investment, with a peak of around 6,000 construction jobs and around 1000 during the operation of the station. Our investment in local skills and suppliers can also help ensure that the project leaves a lasting legacy for the region”.

“Hitachi has a world-class track record. Its Advanced Boiling Water Reactors have all been constructed to time and to budget. We plan replicate that success in the UK. Now the sale has completed we will focus on developing our programme and strategy.

“Development of Oldbury will follow our lead site at Wylfa. We also expect our current preference for smaller ‘hybrid’ cooling towers will remain unchanged”.

Announcing the sale in October 2012, Hitachi and Horizon set out their intention to make significant investment in training engineers, construction teams and operating staff for a new power station.

“We realise there will be a great deal of interest in our plans locally and we look forward to providing the community with further information as soon as possible”.

About Hitachi, Ltd.

Hitachi, Ltd., (TSE: 6501), headquartered in Tokyo, Japan, is a leading global electronics company with approximately 320,000 employees worldwide. Fiscal 2011 (ended March 31, 2012) consolidated revenues totalled 9,665 billion yen ($117.8 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes information and telecommunication systems, power systems, environmental, industrial and transportation systems, and social and urban systems, as well as the sophisticated materials and key devices that support them. For more information on Hitachi, please visit the company's website at www.hitachi.com

About the technology:

Advanced Boiling Water Reactor (ABWR) technology has already been licensed in other countries and is the only advanced nuclear technology (Generation III.PLUS) in operation in the world. Currently, there are four ABWRs in operation In Japan, built to time and budget.

E.ON UK, Chief Executive, Dr. Tony Cocker said: “This is an important day not just for the staff at Horizon but also for whole of the UK. Throughout this process we have been clear that new nuclear developments have a vital role to play in helping the UK produce the low carbon electricity it will need. As is clearly shown by the daily actions of our 12,000 UK colleagues, E.ON will continue to give 100% commitment to this country and our customers.

“Last year we invested over £1billion and our current developments including Blackburn Meadows, a £120m state of the art biomass plant in Sheffield and Rampion offshore wind farm near Brighton that could see up to £2bn invested, prove beyond doubt that we will play our part in helping to transform the UK’s energy infrastructure.”

RWE npower Group CEO, Volker Beckers, said: “A huge amount of work has already been done by Horizon’s highly skilled workforce, and today’s announcement is a clear signal that the work done has significant value and that Government policy on new nuclear for the UK is on the right track. It’s an excellent deal for all concerned.”

“RWE has invested more than £3.4bn into new lower carbon infrastructure for Britain over the last three years, more than any other energy company. That has given us not only the largest operational portfolio of renewable energy technologies in the country, but also the largest and most efficient fleet of gas-fired power stations.“

Hiroaki Nakanishi, Representative Executive Officer and President of Hitachi, Ltd. said: “I am extremely pleased that we have been successful in acquiring Horizon Nuclear Power. Today starts our 100 year commitment to the UK and its vision to achieve a long-term, secure, lowcarbon, and affordable energy supply. We look forward to sharing Hitachi’s corporate vision and nuclear business policy with the management and employees of Horizon, and working harmoniously with UK companies and stakeholders for the delivery of this vital part of Britain’s national infrastructure and the creation of a strong UK nuclear power company.”

As the transaction process is completed Hitachi Ltd. will discuss their plans with Horizon Nuclear Power employees and when appropriate begin discussions with local stakeholders.

During the transaction process the E.ON and RWE joint financial adviser was Nomura and legal advisers were Freshfields Bruckhaus Deringer for E.ON and CMS Cameron McKenna for RWE.

Click here to download an technology factsheet (.pdf, 476kB).

Background

Horizon Nuclear Power plans to develop around 6,000 MW of new low-carbon nuclear power by 2025 across their two sites at Wylfa on Anglesey and near Oldbury-on Severn, South Gloucestershire.

At Oldbury 150 hectares of land owned by Horizon adjacent to the existing Magnox nuclear power station, has been included in the Government's draft list of sites deemed strategically suitable for new nuclear development.

They believe this site provides all the essential requirements of, and is a good location for, a potential new nuclear plant.

The site boasts a strong history of nuclear power generation, an experienced local skills base, good strategic transport links and good connection into the electricity transmission network.

Over the next few years they will continue to keep local communities up to date with developments before formally consulting on preferred options ahead of a planning application.

For more information go to: www.horizonnuclearpower.com

Talks to local groups

Members of the Horizon Oldbury development team have given a number of presentations on our proposals to local groups and organisations, with further talks scheduled.

The meetings are a great way for Horizon to bring local people up to date and provide an opportunity for members of each group to raise any specific issues or concerns they may have about the project.

As part of their continued programme of local engagement they are keen to schedule more of these individual events and would like to hear from more local groups or organisations who would be interested in meeting with them.

Contact us

If you have any queries or issues you would like to raise with Horizon, please call their usual Freephone number 0800 130 3125 or email: