Following a competitive tender process, NuGen has appointed Credit Suisse, one of the world’s leading financial services providers, to support the delivery of the Moorside Project to build a new nuclear power station in West Cumbria.
Moorside’s three AP1000® reactors will generate up to 3.6GW of electricity, providing around seven percent of the UK’s projected electricity requirements. A financial investment decision is expected towards the end of 2018.
NuGen’s Chief Executive Officer, Tom Samson, said: “I’m delighted to be able to announce that this contract has been placed. Credit Suisse are a good fit for our business because of their previous experience with other nuclear new build developers.
“Placing this contract early in the development process is another big stride towards our goal of providing clean, affordable new nuclear power for the UK.”