A Japanese company gives up its plans to build a new nuclear power plant in Anglesey, off the northern coast Wells, Dashing hopes of the thousands of jobs involved in its construction and undermining the UK’s ambition to become a “carbon-free” country by 2050.

Hitachi, the Tokyo-based multinational company, is expected on Wednesday to announce permanently canceling its plans for the £ 16 billion Huelva Power Plant. Work was on the Wylfa Newydd project adjacent to the existing decommissioned power plant It has already been suspended After Hitachi failed to reach a financing agreement with the UK government, the planning process continued.

Justin Bowden, GMB National Officer, said: “This announcement is totally expected of Hitachi It is the result of successive governments’ failures to act decisively about new nuclear energy, and especially how to finance it. New nuclear energy is vital in achieving decarbonization, especially when cooperating with hydrogen.

“It is no coincidence that governments around the world – almost without exception – are financing these projects, because they are the lender of last resort when it comes to keeping the lights on. The fictitious experiment of trying to convince foreign companies or governments to finance our future energy needs leaves most of the citizens. Ordinary people in this country are confused. “

Hitachi-owned nuclear developer Horizon declined to comment.

A group of 100 organizations, including unions and companies, that support plans to build a nuclear power plant in Siswil in Suffolk also expressed concern about Huelva’s decision.

“This news will have serious repercussions for companies in Wales and across the UK,” said Cameron Gilmore, a spokesman for the Siswil-C consortium. “The Helfa nuclear project could have been another milestone in the UK’s nuclear supply chain and would have created thousands of jobs.”

READ  Canberra is pressing Rio Tinto to appoint an Australian as the next CEO

Subscribe to our daily Business Today mail or follow Guardian Business on Twitter at BusinessDesk

“Unless the Sizewell C, a replica of the Hinkley Point C under construction, is given the green light, there is now a serious risk to the future of UK civilian nuclear building capacity and the tens of thousands of attendant jobs.”

“The ever-increasing costs of nuclear energy have outpaced the low costs of renewable energy for years, and a new reactor supplies electricity at more than twice the price of a new offshore wind farm,” said Dr. Doug Barr, chief scientist at Greenpeace UK.

Promoting this dying industry has become more difficult and more expensive for the few governments still hoping for a nuclear renaissance. We hope that the UK government will take Hitachi’s decision to abandon Huelva as a final confirmation of what the energy market has been trying for a long time to tell them – Britain’s future is renewed. “