Iberdrola/GDF consortium buys Sellafield land for GBP70 million

28 October 2009

The consortium of Iberdrola S.A, GdF Suez S.A and Scottish & Southern Energy plc has bought 190 ha (470 acres) of land to the north of the of the existing site at Sellafield in Cumbria.

As part of the deal, the consortium will pay the UK Nuclear Decommissioning Authority, which owns the land, an upfront payment of GBP19.5 million, followed by a further payment of at least GBP50.5 million in the next six years.

The site will likely be used as a base for a new nuclear plant in the UK. The consortium will now progress with detailed site investigations to determine the exact location for its proposed nuclear development and then apply for the necessary planning and licensing permissions. Land surplus to requirements will be returned to the NDA.

The sale represents further continuation of the NDA’s programme of asset disposals, all raising funds which the NDA can put towards its core mission of decommissioning the UK’s fleet of existing nuclear power stations.

John Clarke, NDA commercial director said:

“The sale of this land is a significant milestone in our asset disposal programme and follows on from the successful sale of land at three of our sites earlier this year. The £450 million generated from these sales will be utilised to support the NDA’s clean-up mission and is good news for the UK taxpayer.”

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