NuGeneration, a joint venture between Toshiba and French utility Engie, plans to build a nuclear power plant in northwestern England. Toshiba acquired a 60% stake for 102 million pounds ($126 million at current rates) in 2014. The conglomerate has discreetly sounded out Korea Electric about a sale.
"We'll be the first to make an offer" once the conditions are determined, including equity and debt structures, Cho told a media gathering in Sejong, marking the utility's first public expression of interest.
But solidifying the details of a proposal will require the blessing of the Japanese and U.K. governments, Cho said, noting that no such agreement has been reached.