ENGIE to transfer its 40% stake in NuGen project to Toshiba
NuGen, the U.K.-based nuclear energy company that plans to build three Westinghouse AP1000 reactors in West Cumbria, at Moorside, is facing some significant challenges which have led ENGIE to exercise its contractual rights in view of transferring its 40% shares to Toshiba.
ENGIE, as operator of an important European nuclear fleet, remains willing to put its know-how and expertise at the service of NuGen and help any restructuring with new potential partners for the development, construction and operation of the project. ENGIE, through its affiliates ENGIE Electrabel, Tractebel, Endel, ENGIE Axima and ENGIE Ineo, remains an important contributor to the European nuclear industry.
As a leading energy and services company in the United Kingdom, ENGIE continues to play a major role in the UK’s energy transition. With 17,000 employees in the UK, the Group will continue to develop its business, as demonstrated by the agreement announced last month to acquire Keepmoat’s regeneration business. ENGIE is using its capabilities to lead the UK’s progression towards a more secure and sustainable future, through a strategy based on investment in critical energy infrastructure, integration of its energy expertise with its broad services offer, and innovation in customer-led solutions and technologies.
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 153,090 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).