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NuGeneration, the GDF Suez and Iberdrola joint venture planning to build a nuclear power station in Cumbria, has been granted an electricity generating licence by regulator Ofgem.
The licence is an early stage in the company’s plans for a new nuclear plant, which would be sited at Moorside, a site adjacent to the Sellafield nuclear complex. The site was deemed suitable for a new nuclear station when it was named in a National Planning Statement in 2011.
The company expects to take a final investment decision on the nuclear plans in 2015 and bring a new plant into operation around 2023.
Iberdrola owns big six energy retailer Scottish Power along with the electricity distribution network in southern Scotland and parts of England and Wales. GDF Suez has power generation assets in the UK.
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