The UK government has been courting South Korean investors to promote Moorside, the struggling new nuclear project in Cumbria.
Greg Clark, Energy Secretary, is reported to have met with potential investors in South Korea as the government searches for a new partner to take the project forward. Currently a deal has not been brokered.
This follows the financial problems facing Toshiba, who have been pushed into buying out French engineering group Engie from the project partnership (NuGen).
Toshiba are keen to find a new partner or sell their interest in the project, with South Korea’s state sponsored utility business, KEPCO, said to be the leading potential investor.
If KEPCO does invest, one of the key questions will be, what type of reactor will be used for the project. The Westinghouse AP1000 reactor is currently planned to be used.