The state-backed company China General Nuclear (CGN) is reportedly interested in buying a stake in the troubled Moorside nuclear power station project.
The company told Reuters it is looking to bid for an equity stake in the NuGen site in Cumbria.
“We are willing to utilise our experience in nuclear design, construction and operation for more than 30 years to support the development of Britain’s nuclear industry,” a company spokesman said in a statement.
CGN, alongside another Chinese state-backed company CNNC, already owns a one-third stake in the Hinkley Point C nuclear power station, which is being built by EDF.
The nuclear power project was originally developed by Toshiba and Engie.
But in April, Engie sold its 40 per cent stake in the project to Toshiba for around ¥15.3 billion (£110 million).
The French firm invoked a contractual right to offload its share in the event of a default, after Toshiba’s subsidiary Westinghouse, which was due to supply three of its AP1000 reactors for the project, filed for bankruptcy protection in the US.
The following week, Toshiba warned there was “substantial doubt” over its continued survival after reporting a ¥576 billion (£4.2 billion) operating loss in the last three months of 2016.
In a separate development, the BEIS (business, energy and industrial strategy) secretary, Greg Clark, has welcomed proposals from the UK Takeover Panel that overseas bidders will have to be more specific in their plans for a target company.
“The Takeover Panel is a respected and important part of this regime and the government welcomes the valuable changes it is proposing,” said Mr Clark.
“They will require bidders to make earlier and fuller disclosure of their plans for the target company, including its research and development, location of headquarters, and the composition and skills of its workforce; and give companies subject to a bid more time to prepare their response.”