TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
*
Home
Press release
Sep 16, 2020 19:17 JST
Source:
Hitachi, Ltd.
Hitachi to End Business Operations on the UK Nuclear Power Stations Construction Project
TOKYO, Sep 16, 2020 - (JCN Newswire) - Hitachi, Ltd. (TSE: 6501) today announced that it will end business operations on the nuclear power plant construction project in the United Kingdom (Horizon Project), which was suspended in January 2019 (1). Hitachi made this decision given that 20 months have passed since the suspension, and the investment environment has become increasingly severe due to the impact of COVID-19.
The Horizon Project is a proposal by Horizon Nuclear Power Limited, which Hitachi acquired in November 2012, to develop nuclear power stations comprising of two units of UK ABWR(2) at Wylfa Newydd in Anglesey, North-West Wales, with the intention to develop Hitachi's nuclear business in the UK and contribute to the energy policy of the UK government, as well as maintaining the business foundation that supports the nuclear industry in Japan.
Hitachi decided to suspend the Project in January 2019, from the viewpoint of Hitachi's economic rationality as a private company because it was clear that further time was needed to decide on a financing structure for the Project and the conditions for building and operating the nuclear power stations.
As a result of this decision to end business operations on the Horizon Project, Hitachi will coordinate with the UK government and relevant organizations regarding its cooperation as the owner of ABWR licence(3) and the handling of the planned construction sites and other matters. This decision is not expected to have significant impact on Hitachi's business results as Hitachi had posted an impairment loss and other expenses of 294.6 billion yen on consolidated financial results for fiscal 2018, the year ending March 31, 2019 due to the suspension of the Project.
Hitachi expresses its deepest gratitude to the UK government, the Wales government and residents, the Japanese government and other stakeholders for their continued support and cooperation. Hitachi will continue to contribute to improve social, environmental and economic value and people's quality of life through its Social Innovation Business, including the energy business.
(1) January 17, 2019 "Hitachi Announces Suspension of UK Nuclear Power Stations Construction Project and Posting of Impairment Loss and Related Expenses on Consolidated Basis, Posting of Extraordinary Loss on Unconsolidated Basis, and Revisions to Full-year Consolidated Business Forecast"
(2) A reactor adapted to UK requirements based on ABWR(Advanced Boiling Water Reactor)
(3) December 14, 2017 "UK ABWR successfully completes GDA process"
Source: Hitachi, Ltd.
Sectors: Alternative Energy
Copyright ©2026 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Related Press Release
Hitachi Energy and Volvo Construction Equipment announce collaboration to accelerate zero-emission construction sites
May 27 2026 19:19 JST
Hitachi Energy's HMAX Energy service solutions strengthen long-term reliability for Akaysha Energy's Ulinda Park BESS
May 21 2026 12:40 JST
Hitachi announces strategic partnership with Anthropic to strengthen "Lumada 3.0" through frontier AI
May 19 2026 22:09 JST
Hitachi to establish a new company with Nojima under a strategic partnership to accelerate growth of its home appliance business
April 21 2026 18:21 JST
Hitachi Energy and Samsung C&T expand strategic collaboration to accelerate grid infrastructure and reinforce energy security
April 15 2026 17:17 JST
Hitachi Rail announces agreement to acquire Clever Devices, marking its growth as a global digital mobility player
April 03 2026 10:09 JST
Hitachi Digital Services Strengthens OT-IT Integration with Manufacturing Operations Management Platform
March 31 2026 18:14 JST
MOL and Hitachi Launch Initiative to Convert Used Ships into Floating Data Centers
March 30 2026 18:21 JST
Hitachi and MUFG Bank expand NextGen model to finance vehicles and charging infrastructure for decarbonized mobility
March 27 2026 18:44 JST
OKI and Hitachi Agree to Integrate Businesses Related to Automated Teller Machines (ATMs) and Other Automated Equipment
March 26 2026 21:10 JST
More Press release >>
Latest Press Release
ONERHT Foundation Raises Over S$280,000 for Local Charities and Announces New Leadership at 11th Anniversary Charity Golf & Gala Dinner
Jun 05, 2026 11:00 JST
Operations Started for the Nagaoka Methanation Demonstration Utilizing the CO2NNEX(R) Digital Platform for Transfer and Management of e-Methane Clean Gas Certificates
Jun 04, 2026 23:49 JST
Fujitsu and Daiichi Life Group Launch Joint Research to Advance Asset Management with Quantum Technology
Jun 04, 2026 23:17 JST
"Making Children and Adults Smile:" Honda Launches the SMILE RIDER PROJECT
Jun 04, 2026 22:46 JST
GR Premiers GRMN Corolla
Jun 04, 2026 22:05 JST
Island States Ocean Summit Opens in Tokyo
Jun 04, 2026 12:00 JST
Mazda and Nippon Express Launch Demonstration Trial Using Biodiesel Fuel
Jun 04, 2026 00:26 JST
NEC Wins at the Newsweek AI Impact Awards 2026
Jun 04, 2026 00:09 JST
Mitsubishi Heavy Industries and Preferred Networks Form Business Alliance to Jointly Develop Japan-Made AI Technologies for Mission-Critical Applications
Jun 03, 2026 23:51 JST
JAL Engineering and Mitsubishi Heavy Industries Establish Joint Venture "Aero Breath" for Aircraft Aftermarket Business
Jun 03, 2026 23:27 JST
MHI Receives Waste Treatment Technology Verification Report from JESC for Its Biomass High-Efficiency Recovery and Recycling System AdBio
Jun 03, 2026 23:02 JST
DUNLOP and Fujitsu Reduce Tire Structural Analysis Time by Approximately 90% Using AI
Jun 03, 2026 22:31 JST
153 elevators and escalators delivered for the New Taipei Metro Sanying Line in Taiwan
Jun 03, 2026 11:00 JST
Fujitsu Launches AI-Powered Service to Analyze Non-Financial Disclosure and Enhance Corporate Value
May 29, 2026 22:11 JST
Sigenergy Unveils SigenAgent, the First All-Domain AI Agent for the Renewable Energy Industry
May 29, 2026 21:47 JST
Wheelchair Racer Catherine Debrunner Breaks Her Own World Record, Sets New Mark in the 200 Meters (T53) at the World Para Athletics Grand Prix (Switzerland)
May 27, 2026 22:45 JST
Fujitsu signs strategic partnership with Anthropic
May 27, 2026 22:03 JST
Fujitsu to accelerate AI transformation in Japan's enterprise sector through collaboration with OpenAI
May 27, 2026 21:18 JST
Hitachi Energy and Volvo Construction Equipment announce collaboration to accelerate zero-emission construction sites
May 27, 2026 20:19 JST
NEC and New York University Evaluate Economic Impact of Flood Protection Project Around the Island of Manhattan
May 27, 2026 12:03 JST
More Latest Release >>