NuGeneration (NuGen) has signed a co-operation agreement with HM Treasury that is the first step in underwriting finance for a new nuclear power station at Moorside, West Cumbria.
The agreement establishes a process to enable access to the UK Guarantee Scheme, which was introduced in 2012 to accelerate investments in major infrastructure projects. A guarantee is already in place for EDF Energy’s Hinkley Point C project.