German giants to build U.K. reactors ($25 Billion worth)

From UPI:

German energy giants Eon and RWE have decided to team up to build nuclear power plants in Britain, promising to invest around $25 billion in the endeavor.

The new company Horizon Nuclear Power headquartered near Gloucester will start operations on Nov. 16, the companies said in a joint statement. The joint venture is held to 50 percent by Eon UK, with RWE npower owning the other half.

The companies plan to invest some $25 billion into new nuclear power plants in Britain, the first of which is scheduled to go online by 2020, the statement said.

Some 6,000 MW worth of generation capacities will be installed at Wylfa on the Welsh island of Anglesey and at Oldbury, in Gloucestershire, where the companies acquired land earlier this year....MORE