Climate Changed
Hitachi Ends U.K. Nuclear Power Bid
- Withdrawal marks latest developer to pull out of atomic plant
- Union says move will leave U.K. at risk of energy crisis
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The Japanese conglomerate Hitachi Ltd. confirmed it will halt work on its nuclear power project in the U.K., delivering a blow both to its ambitions to export more of its technology and Britain’s effort to revive its atomic industry.
The company will book a loss of about 300 billion yen ($2.8 billion) after suspending indefinitely its plans to build reactors at the site in Wylfa, Wales. Theresa May’s government announced the U.K. will outline a new strategy later this year.