Toshiba exits US nuclear project https://www3.nhk.or.jp/nhkworld/en/news/20180531_37/ 31 May 18 Japanese electronics maker Toshiba is walking away from a nuclear energy project in the US. The firm says it won’t take part in building or operating the nuclear plant.
There are 2 reactors on the drawing board. Toshiba executives say the project is no longer financially viable.
They say an increase in shale production has caused a fall in electricity sales.
They also point to stricter regulations introduced after the 2011 nuclear accident in Fukushima. Toshiba joined the South Texas Project in 2008. Executives were hoping to start operating the reactors around 2016 or 2017.
But the power company that’s heading up the project hasn’t started building them.
Toshiba is cutting its ties to the nuclear power business overseas.
The firm incurred massive losses through its former American nuclear subsidiary, Westinghouse.