Toshiba has announced its intention to withdraw from the nuclear power plant construction project at Moorside in Cumbria, and wind up the NuGeneration Limited (NuGen) business.

The company said it had spent 18 months in negotiations with a range of potential new owners, but it has not been possible to successfully conclude those negotiations.

NuGen has retained a team to support the implementation of a winding-up process and will work with Toshiba and its other stakeholders.

Toshiba added that  remains a site designated by the UK government for nuclear new build, and “it is now for the Nuclear Decommissioning Authority as the owner of the site and the government to determine its future.”