Horizon Nuclear Power
|Duncan Hawthorne - CEO|
Horizon Nuclear Power is a British energy company that is expected to build new nuclear power stations in the United Kingdom. It was established in 2009, with its head office in Gloucester, and is now owned by Hitachi.
The company was established in 2009 as an E.ON UK and RWE npower joint venture. The company announced its intention to install about 6,000 MWe of new nuclear capacities adjacent to the existing Oldbury and Wylfa nuclear power stations. Horizon initially evaluated building either Areva 1,650 MWe EPR reactors or Westinghouse 1,100 MWe AP1000 reactors between 2020 and 2024.
In March 2012 E.ON and RWE npower placed Horizon up for sale as a going concern. One bidder was a joint venture of China Guangdong Nuclear Power Group and the China National Nuclear Corporation.
Hitachi intends to build two to three 1,350 MWe Advanced Boiling Water Reactors (ABWR) on each site, but will first require a Generic Design Assessment for the ABWR by the Office for Nuclear Regulation, which is likely to take from two to four years. The assessment began in April 2013, with an agreement that the costs of assessment will be covered by Hitachi-GE. In August 2014, the proposed reactor type reached the third stage, out of four, in the GDA process. This processes should be fully completed in 2018.
Horizon planned initial site work at Wylfa to begin in 2015, with building work starting in 2018 and generation starting in the mid-2020s.
In January 2016 Hitachi announced a new UK company, Hitachi Nuclear Energy Europe, to lead a proposed joint venture with Bechtel and JGC Corporation, to cover the engineering, procurement and construction of Horizon's nuclear plants in the UK. Horizon Nuclear Power will continue to work on obtaining regulatory consents and making commercial arrangements. However, later in the month Hiroaki Nakanishi, chairman and chief executive of Hitachi, expressed serious concerns to Foreign Secretary Philip Hammond over financing the development, following EDF's difficulty in financing its Hinkley Point C nuclear power station development. Hitachi is currently negotiating with the Department of Energy and Climate Change (DECC) on electricity price guarantees, called Contracts for Difference (CfD).
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