NuGen meaning

In practice, NuGen refers to NuGeneration Limited, the UK nuclear new-build developer that promoted the proposed moorside project in West Cumbria, adjacent to the Sellafield site. The term is not defined in legislation or case law; it is a descriptive expression used across energy, projects, M&A and insolvency contexts. NuGen planned to construct three Westinghouse ap1000 reactors at Moorside. Its ownership evolved: it operated as a joint venture and, after Engie exited in 2017 under a put option, Toshiba became sole shareholder. In December 2017 Toshiba identified Korea Electric Power Corporation (KEPCO) as preferred bidder for a sale of NuGen, but no transaction completed. In November 2018 Toshiba announced a wind-down of NuGen, and the company was subsequently wound up, bringing its Moorside development to an end. For legal practitioners, NuGen commonly appears in legacy joint venture documentation, land rights and options, planning and consultation materials, grid and supply chain contracts, guarantees and security, change-of-control provisions, and insolvency filings or claims. Usage is consistent across England & Wales, Scotland, Northern Ireland and Ireland, though the company was incorporated in England.