E.ON and RWE Plan Nuclear Venture

5 November 2009 (Last Updated November 5th, 2009 18:30)

RWE npower and E.ON UK's nuclear joint venture aims to create around 6,000MW of new nuclear capacity in the UK and thousands of new jobs, it has been revealed. The two energy giants announced details of their nuclear joint venture, which is to be called Horizon Nuclear Power, which will

RWE npower and E.ON UK's nuclear joint venture aims to create around 6,000MW of new nuclear capacity in the UK and thousands of new jobs, it has been revealed.

The two energy giants announced details of their nuclear joint venture, which is to be called Horizon Nuclear Power, which will begin operating from 16 November at new headquarters near Gloucester.

The 50:50 joint venture was created in January and aims to develop around 6,000MW of new nuclear capacity in the UK – enough to power a city the size of Greater London – by 2025.

The first reactor is expected to come online around 2020, E.ON UK said in a statement.

Earlier this year E.ON UK secured development land at Wylfa on Anglesey and Oldbury-on-Severn in South Gloucestershire.

Its programme of new nuclear power stations could involve more than £15bn in investment and create around 11,000 jobs, including around 800 permanent jobs at each site and up to 10,000 during construction, the company said.

“Nuclear energy will form a key part of Britain’s low carbon future and Horizon Nuclear Power will play a key role in delivering new nuclear stations, helping achieve the UK’s stretching environmental targets and stabilise energy prices,” E.ON UK chief operating officer Alan Raymant said.

The company said it is also developing its competitive tender process with Areva and Westinghouse for the selection of a reactor technology.

E.ON and RWE have interests in 23 nuclear reactors in Germany and Sweden, including two jointly owned reactors at Gundremmingen and one at Lingen.