Spanish utility Iberdrola said Monday it will sell its stake in a British nuclear plant consortium to Toshiba Corp. for £85 million (¥14.4 billion).
Toshiba will buy a 50 percent stake in NuGen, a joint venture between Iberdrola and French utility GDF Suez.
The deal is subject to regulatory approval, Iberdrola said.
NuGen owns a site in West Cumbria, in northern England, where it plans to build a 3.6 gigawatt nuclear power plant.
The British government plans to continue building nuclear power plants, with anti-nuclear sentiment not so strong in the country even after the Fukushima meltdowns in 2011.
Hitachi Ltd. is planning to build two nuclear plants in Britain.