Toshiba, owner of Pittsburgh-based Westinghouse Electric, will no longer build nuclear power plants, a setback for proponents of a nuclear renaissance in America.
The Wall Street Journal reported the Japanese corporate giant’s plans are expected to be announced mid-month.
“Toshiba Corp. plans to stop building nuclear power plants after incurring billions of dollars in losses trying to complete long-delayed projects in the U.S., a move that could have widespread ramifications for the future of the nuclear-power industry,” the Journal reported.
“The company has bet aggressively on Westinghouse’s AP1000 reactor design, which it hoped would anchor a new generation of nuclear power plants that were supposed to be easier to build and to deliver on time. But signs emerged that the AP1000 wasn’t as easy to build as hoped, and yet Toshiba remained confident and took on added financial risk, according to legal filings and interviews with people involved with the construction process,” the Journal reported.
Maria Korsnick, president and CEO of the Nuclear Energy Institute, this week said that Russia and China are connected with two-thirds of the 66 nuclear plants now being built worldwide.
“The United States has a unique but perishable opportunity to reclaim leadership,” she said.
Westinghouse is expected to complete construction work at Southern Company units under construction in Georgia and Scana units being built in South Carolina.