Government reveals funding offer it made to Hitachi for Wylfa nuclear plant

By Will Ing2019-01-17T13:57:00

Greg Clarke says it was a “generous package of potential support”

The government has revealed it was willing to take a one-third equity stake in a new nuclear plant Wylfa Newydd and would have provided all required debt financing to complete its construction.

Japanese conglomerate Hitatchi suspended the project this morning after failing to find enough private-sector backers or agree a workable deal with the British government.

But in an update to parliament business minister Greg Clarke said the UK offered “a significant and generous package of potential support that goes beyond what any government has been willing to consider in the past”.

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