Horizon Nuclear Power (HNP) is set to carry out formal negotiations with the UK Government for the new nuclear power station at Wylfa Newydd site on the Isle of Anglesey in North Wales.
The discussions will focus on ensuring Wylfa Newydd nuclear power station represents good value for consumers.
HNP has also applied to the Planning Inspectorate for permission to build its project at Wylfa Newydd.
As part of the application, HNP submitted Horizon’s Development Consent Order (DCO), which comprises of documents and drawings all specifying the nuclear power station and associated work the company wants to develop at the site.
Apart from the DCO, HNP also applied for a Marine Licence, Operations Combustion permit, Operations Water Discharge permit and Construction Water Discharge permit from Natural Resources Wales.
Now, the Planning Inspectorate will have 28 days to decide if the DCO meets the standards that will enable it to be accepted for examination.
Horizon Nuclear Power chief executive officer Duncan Hawthorne said: “Today’s announcement is fantastic news for Anglesey, the nuclear industry, and Horizon, as well as a clear signal of the Government’s commitment to delivering a low carbon future for the UK.
“Building on last year’s regulatory acceptance of our tried and tested reactor technology, it shows real momentum behind the project which will bring huge benefits everywhere from Anglesey to Wales and the UK and Japan.
“Our focus now is to ensure we continue to deliver on our key project milestones as we move towards construction.”
HNP was established in 2009 for developing new nuclear power stations in the UK. It was acquired by Hitachi in November.
The company aims to build new nuclear power generation plant at Wylfa and Oldbury-on-Severn in South Gloucestershire that will have the capacity to produce at least 5,400MW of energy.
During the construction phase, the power station sites are expected to create employment opportunities and, once operational, up to 850 people will be employed at each station.