SOURCE: Industrial Info Resources

November 10, 2009 05:00 ET

E.ON and RWE Create New Nuclear Company, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwire - November 10, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- A new player in the British nuclear market has been formally launched by the United Kingdom subsidiaries of German energy giants RWE AG (OTC:RWEOY) (Essen, Germany) and E.ON AG (OTC:EONGY) (Dusseldorf, Germany). Horizon Nuclear Power (Gloucester, England), created by RWE npower and E.ON UK, is a 50:50 joint venture that aims to develop about 6,000 megawatts of new nuclear capacity in the U.K. by 2025. The company has a war chest of up to £15 billion ($25 billion) and believes it can create more than 11,000 jobs during the construction of the nuclear power plants.

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