Hitachi Makes a Splash in the Nuclear Power Industry by Buying Energy Project from E.ON

Hitachi, Ltd. logoAccording to new reports, Hitachi is looking forward to making a big name for itself in the nuclear energy industry.  They will do this by buying a nuclear energy project from E.ON and RWE. The project in question is the one by the Wylfa nuclear power station on Anglesey. This is a plant that is due to stop making energy by 2014.

According to the UK government, they plan on boosting their nuclear expansion with this new contract signed by Japan’s Hitachi. Reports suggest that this is a deal worth some £700 million. In general, this new deal will give Hitachi the right to build the next generation of nuclear power plants for the UK. This is not only beneficial to Hitachi, but the UK as well.

Of course, the news does not stop there for Hitachi. This Japanese company also plans to buy Horizon Nuclear Power. This was the same group that was intending to build new reactors on existing sites at Oldbury, Wylfa and Anglesey. Hitachi will have to buy Horizon from E.ON and RWF, which are German companies.

This is actually bigger news than what some people expected. In fact, experts say that E.ON and RWE are going to withdraw from the UK nuclear market altogether. Most likely, these companies are going to focus their effects elsewhere. It is very likely that they will focus their efforts back into Germany.

David Cameron, who is the Prime Minister to the UK, said that this was a major step for the country overall. He said that this announcement is decades-long in the making. It is a vote of confidence for the UK overall. People want to see a new infrastructure put in place, and that is just what Hitachi plans to do.

Mr. Cameron went on to say that this announcement is going to support up to 12,000 jobs during its construction. Thousands of these jobs are going to be high skill jobs. Thus, Mr. Cameron says that he welcomes Hitachi to the UK with open arms. By working with other companies, Hitachi can help supply the UK with nuclear energy.

Of course, most people agree that the UK will not be able to count on nuclear energy alone. The country will have to invest in many different kinds of energy in order to make sure that people all over the UK have power for their homes.

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