Japanese technology giant Hitachi on Thursday Jan 17 announced it was suspending all further work at its Wylfa Newydd nuclear project in Anglesey, north Wales. This decision by Hitachi’s Board of Directors yesterday in Tokyo included writing off the $2.8 billion already invested in site preparation work. The board also decided to cancel a second nuclear project in the UK at Oldbury in Gloucestershire. This move hardly comes as a surprise. (See our previous Oilprice report “ Another Nuclear Megaproject Bites the Dust ”, November 19, 2018.) What makes this announcement noteworthy is the accompanying statement by CEO Toshiaki Higashihara. He articulated three specific criteria or guarantees that would have to be met by UK authorities in order for Hitachi to resume nuclear construction: 1) the project would have to be financed off the corporation’s balance sheet; 2) Hitachi would only commit relatively limited additional capital to the project; […]