Iberdrola, GDF Suez, Scottish & Southern Energy To Buy Sellafield Site

GDF-SUEZ_logoA consortium of G DF SUEZ, IBERDROLA and Scottish and Southern Energy Plc has been successful in securing an option to purchase land for the development of a new nuclear power station at Sellafield from the Nuclear Decommissioning Authority for £70m.

The consortium was formed earlier this year to participate in the UK’s nuclear new build programme. The consortium partners acknowledge that significant investments are required in the UK to replace the existing fleet of nuclear and coal power plants nearing decommissioning. These investments are critical for the security of electricity supply and the targeted reductions of CO2 emissions. The consortium is committed to helping the UK achieve these goals supported by the experience, resources and skills of operating and delivering nuclear plants.

The consortium aims at building up the highest quality management and wishes to develop strong and long term relationships with local communities. It also expects to contribute to Cumbria’s ‘Energy Coast’ vision through thee development of new reactors in the region as Cumbria constitutes a very sound location due to its established nuclear tradition.

The consortium now intends to prepare detailed plans for developing a new nuclear power station at the site with a capacity up to 33.6 GW. These plans should be submitted for consideration by the relevant planning authorities, with the aim of being able to begin const ruction of a new power station by 2015. Thee consortium will also complete the preparation of a plan for maximising the contribution of UK-based s suppliers and UK-based employees to the new development at Sellafield.

Commenting on the acquisition , Alistair Philllips-Davies, Energy Supply Director of SSE, said: Nuclear power is a tried and tested way of generating power that can help meet energy security and climate change objectives which we support. In line with our commitment to a diverse generation portfolio, we believe that some participation in new nuclear power stations makes sense and complements our core investment in renewable energy.