GDF Suez, Iberdrola and Scottish and Southern Energy announced today that their joint-venture company NuGeneration is now fully established.
NuGeneration (NuGen) aims to develop a new-generation nuclear power station of up to 3.6GW on land in West Cumbria, for which it secured an option in October 2009.
On 18 October 2010 the UK government confirmed, through its draft National Policy Statement, that NuGen’s site was suitable for a new nuclear power station.
According to a statement, the consortium now intends to prepare detailed plans for developing the site, which will be submitted to planning authorities with the aim of a final investment decision being taken around 2015.
These plans will be prepared in consultation with safety authorities and local stakeholders. On this basis, any new power station would be commissioned by around 2023.
A new management team for NuGen has been drawn from all three of the consortium partners.
This team will be headed by Alfio Vidal and Olivier Carret as the executive directors of NuGeneration.
Vidal said: ‘We will shortly be establishing a permanent base in the area, from where we expect to contribute to Cumbria’s “Energy Coast” vision and seek to develop strong and long-term relationships with local communities in West Cumbria.’