Nugen joint venture established

The consortium of GDF SUEZ,  IBERDROLA and Scottish and Southern Energy announced today that their joint venture company, NuGeneration Ltd (“NuGen”), is now fully established.

NuGen aims to develop a new generation nuclear power station of up to 3.6 GW on land in West Cumbria, north-west England, 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. The consortium now intends to prepare detailed plans for developing the site, which will be submitted for consideration by the relevant planning authorities with the aim of a final investment decision being taken around 2015.  These plans will be prepared in full consultation with the safety authorities and local stakeholders.  On this basis, the expectation is that any new power station would be commissioned around 2023.

NuGen is a strong partnership with extensive experience of operating nuclear power stations across Europe, as well as developing and operating thermal and renewable power stations in the UK. The consortium partners own and operate almost 10,000 MW of nuclear capacity across Spain, Belgium, Germany and France, and have more than 250,000 employees worldwide, with almost 40,000 employees in the UK. 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 Ltd.

Olivier Carret is appointed as Chief Operating Director and will have responsibility for all corporate and support services. Olivier Carret has over 30 years experience in the Electricity and Gas Industry. He joined the consortium from GDF SUEZ, where he held various positions including Director of Operations and Director of Asset Management. Before joining GDF SUEZ in 2000, he had spent 6 years in the US where he was involved in the development of a number of international projects.

Olivier Carret said: “NuGen recognises that significant investments are required in the UK to deliver security of energy supply and the targeted reduction of CO2 emissions.  Nuclear energy will be an important part of meeting these objectives.

“NuGen is committed to helping the UK achieve these goals, and expects to build a reputation for delivering the secure low carbon energy supply of the future, in a responsible and safe way.”

Alfio Vidal is appointed as Chief Nuclear Director and has responsibility for all the technical and financial aspects of the project. Alfio Vidal was previously Head of Safety for IBERDROLA’s Spanish nuclear fleet.  He has broad experience in the nuclear energy field having held various positions, including Plant Manager of Cofrentes NPP, a 1,092 MW nuclear plant near Valencia in Spain.

Alfio Vidal said: “NuGen’s greatest strength is that it can draw upon the experience, resources and skills of three well established and respected energy companies, that have experience of operating and delivering nuclear, and other generation plants, across Europe.

”We also hope to draw upon the expertise and knowledge that comes from the long tradition of nuclear power in West Cumbria.  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.”

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