Chinese nuclear companies to bid for UK project

France’s Areva (AREVA.EPA) and Toshiba-owned (6502.TYO) Westinghouse have joined up with Chinese state-owned companies to bid for the US$24 billion Horizon nuclear development in the UK, Reuters reported, quoting industry and financial sources. Areva has joined China Guangdong Nuclear Power Holding Co to enter a bid, while Westinghouse has joined up with China’s State Nuclear Power Technology Corporation to enter a separate bid. The Horizon project is a Gloucester-based joint venture owned by German utilities RWA and E.ON (EOAN.FRA, ETR). The German companies had planned to build nuclear plants with combined capacity of 6 gigawatts at two UK sites in Oldbury and Wylfa, but have come under pressure from Germany’s decision to phase out nuclear power. Two other groups, including potentially Japanese-US joint venture GE Hitachi, are believed to have expressed interest in the bid, said one source.