Today it has been announced that plans for a £20bn nuclear power plant in Wales have been scrapped after Japanese multinational conglomerate company withdrew from the project.
Work on the Wylfa Newydd project in Anglesey, Wales was suspended in January 2019 after costs soared past initial estimates.
It is due to the rising costs since the suspension that Hitachi has now walked away from the development.
Earlier this month, Hitachi failed to reach a funding agreement with the UK government to keep the development going.
Isle of Anglesey Council Leader Llinos Medi said: “This is very disappointing, particularly at such a difficult time economically.”
Hitachi and the UK government have so far declined to comment on the decision, but an announcement is expected over the next few weeks.
Welsh Affairs Committee Committee Chairman Stephen Crabb MP said: “The Wylfa nuclear power project withdrawal is a blow for Wales and the UK’s ambition to achieve net-zero carbon emissions by 2050. This was set to be the largest energy project Wales had ever seen with a positive impact on skills and employment in the region. With the nation’s remaining nuclear plants ageing and the need for low-carbon, high yield plants needed to replace them urgent, it has never been more important than now to ensure energy security.”
The nuclear plant would have created more than 8,000 jobs for the region during the construction phase.
Nearby councils, the Welsh and UK governments will now be meeting to discuss the future of the site.