×

Areva and China's CGNPC backtrack on UK'S Horizon-FT

LONDON, Oct 3 (Reuters) - French nuclear group Areva and China's Guangdong Nuclear Power Corporation Holding (CGNPC) have walked away from the UK's 6-gigawatt Horizon project, the Financial Times reported on Wednesday.

A bid from the Franco-Chinese consortium for the Horizon nuclear joint venture did not materialise by last Friday's deadline, the FT said, citing people familiar with the matter.

People close to the talks, cited by the FT, said China may still invest in Horizon at a later date along with other nuclear projects in Britain. It had been linked with at least three other sites in England.

The consortium's reversal is a setback to the British government's hopes of ushering in a revival of nuclear power.

Horizon is one of the UK's biggest nuclear projects and was put up for sale in March by German utilities RWE and E.ON .

Horizon, a Gloucester-based joint venture, owns two nuclear sites in Britain where it plans to build 6 gigawatts of nuclear capacity with an investment of 15 billion pounds ($24 billion).

(Reporting by Stephen Mangan)

((stephen.mangan@thomsonreuters.com)(+44)(0)(20 7542 7931))

Keywords: AREVA HORIZON/