E.ON is massively withdrawing from nuclear energy
Two very significant moves in 24 hours.
E.ON announced yesterday its decision to sell its 34% stake in a consortium named Fennovoima whose goal was to develop a network of nuclear power plants of a new generation in the country. READ MORE HERE
All of a sudden, concerns about other E.ON nuclear investments are raised. In the UK E.ON withdrawal from a consortium called Horizon Nuclear Power is expected to be announced soon. READ MORE HERE
The German giant appears to be motivated in his new strategy by the aftermath from the
Fukushima disaster. And this at a time where the ripple effect of this catastrophe is still hitting other parts of Europe. The Bulgarian government is about to submit a power plant project to a national referendum after western investors withdrew from it and under the pressure of a
Russian co investor who is claiming for Euros1B in compensation.READ MORE HERE
The irony is that the Japanese, who have given up any domestic nuclear ambitions, may well cease the opportunity to make inroads into the European nuclear market. E.ON share in the British nuclear joint venture may be acquired by Hitachi for Pounds600M (About $1B).
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