U.K. Backs Moorside Nuclear Project

GALWAY, IRELAND--December 8, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) The U.K. government has agreed to help NuGeneration Limited (NuGen) to find financial backers for a new nuclear power station at Moorside in West Cumbria.

The cooperation agreement signed between NuGen and the Treasury is the first step to enabling the project to access the U.K. Guarantee Scheme, whereby if external backers cannot be found the government will fund part or all of the required financing for a fee.