UK's Moorside nuclear project in turmoil as Toshiba's French partner backs out

Troubled tech giant forced to take sole ownership of NuGen after Engie sells stake, adding to uncertainty over plan for three reactors

Toshiba has been forced to buy out the French utility Engie from a project to build three nuclear reactors in Moorside, northwest England, further straining the Japanese company's finances and adding to uncertainty over the project.

Engie said on Tuesday it was exercising its right to sell its 40% stake in the NuGen venture to Toshiba following the bankruptcy of the Japanese firm's Westinghouse nuclear power plant business. Toshiba will pay 15.3 billion yen ($138.5m) for the stake.