Areva quits race for Britain's Horizon nuclear project

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Source: Reuters

France's Areva (AREVA.PA) has dropped out of the race to buy British nuclear new-build project Horizon, the company said on Wednesday, three months after announcing it was bidding for it with China Guangdong Nuclear Power Holding.

"Areva and CGNPC have suspended their interest in the planned sale of Horizon and did not submit a bid," a spokeswoman for Areva said, without specifying the reason for its withdrawal.

Two other bids were submitted for Horizon on Friday - one from Areva's competitor Westinghouse and its parent company Toshiba (6502.T), the other from Japanese engineering firm Hitachi (6501.T) and Canadian counterparty SNC-Lavalin (SNC.TO), an industry source with direct knowledge of the deals said.

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Read more: http://www.reuters.com/article/2012/10/03/us-areva-horizon-idUSBRE8920RD20121003

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1. Financial Times: Blow for Britain’s nuclear revival

http://www.ft.com/intl/cms/s/0/2719932a-0c99-11e2-a776-00144feabdc0.html

Last updated: October 2, 2012 11:48 pm

Blow for Britain’s nuclear revival

By Guy Chazan, Anousha Sakoui and Jim Pickard in London

A Franco-Chinese consortium has walked away from the race to build Britain’s new generation of reactors in a setback to the government’s hopes of ushering in a revival of nuclear power.

The widely expected bid by French engineering company Areva and China Guangdong Nuclear Power Group for the Horizon nuclear joint venture did not materialise by last Friday’s deadline, people familiar with the matter said yesterday. The decision narrows the field of would-be investors in a reactor-building programme that is expected to cost tens of billions of pounds.

In a further blow to the flagship government initiative another consortium failed to secure the anticipated backing of a Chinese state company for its bid.

The lack of participation by the Beijing-backed groups raises questions about how to finance the UK’s nuclear revival. Some industry experts believe only Chinese companies have the financial firepower to shoulder the immense cost of building new reactors.

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[AndyTiedye]

2. No More Nukes!

If you can't even get the French or the Chinese interested in the project, time to give it up.
France and China are the most pro-nuke countries on the planet.

The UK could do a lot with wind power.

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3. Yes, France and China both pulled out

China pulled out of two seperate consortiums.
Japan is the only country still bidding.

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4. Triple blow hits UK nuclear revival: drop-out of bidders, opposition to waste site, safety report

http://www.eaem.co.uk/news/triple-blow-hits-uk-nuclear-revival

Triple blow hits UK nuclear revival

Post Date: 03 October 2012

The drop-out of bidders for nuclear operator Horizon, opposition from the one British community that might host buried nuclear waste, and a damning European report on existing plant safety, all provide new headaches for nuclear supporters.

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