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KEPCO in talks to build UK nuclear plant

South Korea’s Korea Electric Power Corp (KEPCO) (015760.KS), opens new tab is in talks with the British government to build a nuclear power station off the coast of Wales, the Financial Times reported on Sunday.
The state utility has held early-stage discussions with British officials at the Wylfa site in Anglesey, the newspaper said.

Asked for comment, a Department for Energy Security and Net Zero spokesperson said Andrew Bowie, Britain’s minister for nuclear and renewables, would meet KEPCO in London in the coming week without specifying the purpose.

“We are already making progress on our nuclear revival, securing two sites to host new projects,” the spokesperson said in an emailed statement. “Wylfa has excellent potential and we welcome the interest of all parties who are looking to invest in UK nuclear projects.”
KEPCO could not immediately be reached for comment.

The newspaper quoted a British government official as saying the talks were in early stages and that Energy Minister Claire Coutinho would “very much welcome all interest” in nuclear investment.

The public body built to deliver the targets, Great British Nuclear, said in April it is buying land, opens new tab for nuclear development from Hitachi (6501.T), opens new tab at Wylfa in Ynys Mon/Anglesey and Oldbury-on-Severn in Gloucestershire.
Japan’s Hitachi scrapped plans to build a nuclear power plant at the Wylfa site in 2020 after it failed to find private investors or secure sufficient government support for the project.
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