The Moorside plant is the largest, single proposed nuclear power plant construction project in Europe. When fully operational in 2024, it will have enough capacity to deliver power to six million homes.

The announcement sees Toshiba acquire a 60 per cent stake in UK-based nuclear energy company NuGen. GDF Suez will retain a 40 per cent holding.

Prospect national secretary Gill Wood said: “Prospect welcomes this news. When fully operational, the Moorside site will deliver around seven per cent of the UK’s future electricity requirements.

“It will provide new jobs and new opportunities for the nuclear industry. We look forward to working with the new consortia.”

NuGen plans to build three Westinghouse AP1000 reactors – pressurised water reactors – in west Cumbria. Each reactor will take approximately four years to build.

Westinghouse intends to use its Springfields facility near Preston to manufacture the fuel for AP1000 reactors built in the UK.