RWE and E.ON Sell U.K. Nuclear Venture

GALWAY, IRELAND--October 31, 2012 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) There is renewed hope for the U.K.'s new nuclear power drive with the announcement that the Horizon Nuclear Power joint venture has been bought by Hitachi Ltd (Tokyo, Japan) for €863 million ($1.1 billion).

The good news arrive just weeks after French engineering giant, Areva SA (EPA:CEI) (Paris, France) and its Chinese partner, China Guangdong Nuclear Power Corporation (CGNPC) (Shenzhen), dropped out of the bidding process.