South Korean power utility KEPCO is in talks with Japan's Toshiba and France's Engie about buying a stake in the Toshiba-Engie British nuclear joint venture NuGen, a source familiar with the situation told Reuters on Monday. The source did not specify whether Korea Electric Power Corporation would buy a part or all of the stakes of Toshiba or Engie. Both firms are looking for partners to reduce their share in the capital-intensive project, Reuters reported. The source said it is not certain that KEPCO would buy into NuGen and that it was one of several options under review. The Financial Times on Monday reported KEPCO had resumed talks about joining the $13 billion NuGen project after negotiations stalled three years ago and is mulling taking an equity stake and a role in constructing the nuclear plant near Sellafield, northwest England. "We are looking for investors and are talking to a wide range of people," said a spokesman for NuGen when contacted by Reuters, declining to comment on whether talks were taking place with KEPCO.
