Funds set for Welsh plant

UK-Japan News January 2017

Japan plans to contribute a financial package worth ¥1 trillion to the proposed nuclear reactor project at Wylfa Newydd off the Welsh coast, the Nikkei Asian Review reported on 14 December.

The money will be provided in the form of loans from the Japan Bank for International Cooperation and the Development Bank of Japan to Horizon Nuclear Power Limited, which has been contracted by the British government to build and run the plant. Horizon is a subsidiary of Hitachi, Ltd.

The Japanese government sees the funding as a way of boosting exports of its nuclear power technology.