Tokyo-based Hitachi Ltd. today announced that it is withdrawing from the currently suspended Wylfa Newydd nuclear-build project in northwestern Wales. The announcement dashes the hopes raised last month by reports that Horizon Nuclear Power, the Hitachi subsidiary in charge of the project, was in talks with the U.K. government regarding a possible resuscitation.

Hitachi had put the project on hold some 20 months ago, and in today’s announcement the company cited the length of the suspension and the COVID-19 investment environment as factors in its decision.