Hitachi has pulled out of plans to build a nuclear plant in Wales despite the a comprehensive package offered by the Government. In a major blow to the UK’s new nuclear ambitions the Japanese conglomerate will abandon the £16n Wylfa Newydd plan which would have supplied about 6pc of the UK's electricity. Hitachi is expected to take a £2bn financial hit through its development company, Horizon Nuclear, which will also stop early work on another proposed nuclear project at Oldbury. Duncan Hawthorne of Horizon Nuclear, said that despite years of
talks with the Government to secure a funding deal for the project it had been unable to reach an agreement.