Cumbrian nuclear new build backer Toshiba could sell the majority stake in its American nuclear division Westinghouse Electric later this year.

The comment has come from Mark Marano, the chief operating officer of Westinghouse, which is set to produce three AP1000 reactors for the proposed power station in Moorside, near Seallafield.

The Bloomberg news agency has reported him as saying Toshiba have “signalled pretty clearly to the market” that this will happen.

Westinghouse filed for bankruptcy in the USA earlier this year and Toshiba, which is in serious financial trouble, has indicated that it might sell the division.

“(The sale process) may materialise into the fall (autumn), once we get further along in the Chapter 11 (bankruptcy) process,” Mr Marano added.

“At which point in time they may engage in a formal process to potentially seek new ownership for us.”

Private equity firms as well as Chinese and South Korean companies have been suggested as potential buyers.