E.ON, RWE Put £15B UK Nuclear Venture On The Market

Law360, New York (March 29, 2012, 5:19 PM EDT) -- The British arms of German energy giants E.ON AG and RWE AG decided Thursday to sell off their £15 billion ($24 billion) U.K. joint venture Horizon Nuclear Power, which was set to deliver 6,000 megawatts to Britain by 2025.

As Europe struggles to recover from the global financial crisis, E.ON UK and RWE npower came to the conclusion that their leaner capital expenditure budgets could not support the larger scale and longer payback period associated with nuclear projects, the companies said Thursday.

Capital for major projects...
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