The transaction is expected to complete in November, following which the firm plans to start leading a program of building new nuclear power plants in the UK.
The Hitachi Horizon program involves constructing two to three c1,300MW power plants at each of its sites at Wylfa and Oldbury, with the first unit expected be to operational in the first half of 2020s.
In addition, the company said that Britain’s Babcock International and Rolls-Royce have signed memorandum of understandings to join Hitachi to plan and deliver the program.
British Prime Minister David Cameron said, "It will support up to 12,000 jobs during construction and thousands more permanent highly skilled roles once the new power plants are operational, as well as stimulating exciting new industrial investments in the UK’s nuclear supply chain."
Commenting on the acquisition, Energy Minister John Hayes said, "This was a commercial deal but we have been active in impressing on all interested parties that the UK economy is open and stable and our commitment to new nuclear energy is stronger than ever."
Hitachi president Hiroaki Nakanishi said, "Today starts our 100 year commitment to the UK and its vision to achieve a long-term, secure, low-carbon, and affordable energy supply."
