KEPCO selected as preferred bidder for Moorside nuclear project

Korea Electric Power, or Kepco, said on Thursday its President Cho Hwan-eik would resign tomorrow, with the news coming a day after the state-owned utility was awarded preferential negotiation rights for the purchase of Toshiba's nuclear power business in the United Kingdom.

The statement added: "Kepco is scheduled to continue talks with Toshiba alongside engagement on the pre-feasibility study from the Korean government before closing the transaction in early 2018".

KEPCO said it is set to hold negotiations with Toshiba for months to work out details in buying Toshiba's stake in the NuGen consortium. The KEPCO is expecting that it will be able to sign a share acquisition contract in the first half of next year.

South Korea's state utility Korea Electric Power Corp (KEPCO) said on Wednesday that it had been picked as a preferred bidder for Toshiba's NuGen nuclear project in Britain, throwing the troubled project a lifeline. Toshiba acquired Westinghouse Electric Company in 2006 for US$5.4 billion, but recently made a decision to withdraw from the nuclear power industry after incurring losses.

Priyanka Chopra tops world's sexiest Asian woman list again
She got back her tag from Deepika Padukone who was on the top in 2016 but this time Deepika stands on the 3rd position. Thanking the publication, the actress said, "I can not actually take credit for this at all".

KEPCO will submit its April 1400 reactor to the British nuclear regulators for review in early 2018 with a goal of generating electricity by the late 2020s.

At present, Toshiba owns 60% of the NuGen consortium, which is leading the Moorside Nuclear Power Project.

KEPCO plans to use its own April 1400 reactor design, the same that was used in a massive project Korea won in the UAE.

The Moorside Project is characterized by the operator being in charge of financing for the construction and then retrieving its investment by selling electricity after the completion of the construction.

Related Articles

  • Auckland City go down in opener

    Auckland City go down in opener

    Striker Ali Mabkhout ran at the Navy Blues for the first time and looked to be closed down by defender Angel Berlanga. Auckland City was formed in 2004 out of Central United when a new national league system was created in New Zealand.
    Apple's going back to metal for 2018 LCD iPhone

    Apple's going back to metal for 2018 LCD iPhone

    The iPhone 7 came in five different color options, including Rose Gold, Gold, Silver, Jet Black, and Matte Black. This of course explains why the device is rumored to be a low-cost entry built for low-end and midrange markets.
    Pokemon Go: 50 new Pokemon on the way

    Pokemon Go: 50 new Pokemon on the way

    If it's raining outside, Pokemon GO will drizzle; on a bright summer's day, the sun will beam shine in-game - and so forth. You can find out more details about the latest version of Pokemon Go over at the game's website at the link below.
  • Iran says Trump Jerusalem move will spark 'new intifada'

    Iran says Trump Jerusalem move will spark 'new intifada'

    The Iranian president went on to say: "We have to be aware and ready in the face of the USA , the Zionist entity and their tails". He said the United States wanted to start a war in the region to protect the security of Israel.

    Luxury beauty giant Coty wins ECJ ruling against online sellers

    But the European court said that for luxury goods firms, such rules can be critical to protecting the value of the products. The issue is significant in Europe, whose companies account for 70% of global luxury good sales.
    Saif Ali Khan: Will shift Kaalakaandi release if Padmavati hits theatres

    Saif Ali Khan: Will shift Kaalakaandi release if Padmavati hits theatres

    The box-office hasn't been kind to Khan over the past few years - his last release, Chef , didn't manage to rake in the moolah. In a media statement, Saif said, "If Padmavati comes in (on that day), we will think of shifting our release date".
  • SuperTrend Spotted Above Stock Price for Activision Blizzard (ATVI) — Signal Focus

    About Activision Blizzard Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. Earnings Per Share (EPS) is the earnings made by a company divided by their number of shares. (NASDAQ: ATVI ) or 600 shares.
    Amazon Prime Video Lands On Apple TV

    Amazon Prime Video Lands On Apple TV

    Amazon Prime Video is an iOS app that enables you to watch content from your Amazon subscription on your iPad or iPhone. According to the company, Amazon's implementation of YouTube blocked what Google considered "critical features".
    Ladbrokes Coral in £3.9bn takeover talks

    Ladbrokes Coral in £3.9bn takeover talks

    The tie-up would put the newly formed group in a strong position in major markets such as the UK, Italy and Australia, it added. If the maximum stake is cut to only £50 from £100, shareholders are set to receive the maximum distribution.
  • H&R Block (HRB) Announces Earnings Results, Beats Expectations By $0.01 EPS

    H&R Block, Inc. (NYSE: HRB ) is 9.7% above its 200-day moving average, providing a measure of resistance for long positions. Perhaps, that suggests something about why 88.92% of the outstanding share supply is held by institutional investors.
    Huawei Nova 2s with dual rear and front cameras unveiled

    Huawei Nova 2s with dual rear and front cameras unveiled

    The home button also doubles as a fingerprint scanner, and power and volume buttons located on the right side of the device. The device is powered by an octa-core Huawei Kirin 960 processor, mated to an i6 co-processor and a Mali G71 octa-core GPU.
    Raila will be charged with high treason, death - AG Muigai

    Raila will be charged with high treason, death - AG Muigai

    Mr Odinga has insisted that he won the August 8 presidential poll and accuses the Independent Electoral and Boundaries Commission (IEBC) of rigging him out.