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.

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.

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

  • Thursday forecast: Coldest day of the season so far

    Thursday forecast: Coldest day of the season so far

    As that front looks to be fairly far off the coast, most of the moisture should stay out over the ocean as well. Sunshine should be more plentiful Sunday but that is of little effect as even colder air surges into the area.
    Priyanka Chopra tops world's sexiest Asian woman list again

    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".
    Airtel launches Intex Aqua Lions N1 under its 'Mera Pehla Smartphone' series

    Airtel launches Intex Aqua Lions N1 under its 'Mera Pehla Smartphone' series

    If the customers do not want to recharge with Rs. 169 plan, they have the flexibility of doing recharges of any denomination. Shares of BHARTI AIRTEL LTD. was last trading in BSE at Rs.483.95 as compared to the previous close of Rs. 490.5.
  • 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.
    Lionel Messi lobbies for Gonzalo Higuain's return to Argentina

    Lionel Messi lobbies for Gonzalo Higuain's return to Argentina

    Argentina were placed in Group D at last week's World Cup draw, alongside Iceland, Croatia and Nigeria. The five-time Ballon d'Or victor recently signed a new deal with Barcelona that runs to 2021.
    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.
  • 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".
    Rolls-Royce suffers fresh wave of troubles with Dreamliner engines

    Rolls-Royce suffers fresh wave of troubles with Dreamliner engines

    The investigation into that incident recommended that Rolls-Royce review the design of the intermediate pressure turbines.
    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.
  • 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.
    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.
    Love Jihadis, burns alive man in Udaipur Rajasthan

    Love Jihadis, burns alive man in Udaipur Rajasthan

    A shocking video has gone viral, in which it is seen that a man is brutally killing a Muslim labourer. In the video , the accused can be seen beating the victim and then setting him on fire.