"A lack of clarity from the United Kingdom on the funding model and its timing for developing new nuclear power capacity has contributed to a reluctance to invest by the private sector".
'After considering the additional costs entailed in continuing to operate NuGen, Toshiba recognises that the economically rational decision is to withdraw from the United Kingdom nuclear power plant construction project and has resolved to take steps to wind up NuGen, ' Toshiba said in a statement.
Praising the dedication of NuGen staff and the commitment from Toshiba, Mr Samson said: "The most significant aspect of my disappointment is related to the impact this will have on Cumbria".
The Japanese engineering giant is to wind up its NuGen business, which was going to build three reactors at Moorside in Cumbria, enough to generate 7% of the UK's energy needs.
Toshiba said it will start the process of winding-up the United Kingdom business and will record a consolidated loss before taxes of 15 billion yen ($131.8 million).
As Toshiba's United Kingdom arm, NuGen stated that it had failed to reach any agreement following 18 months of negotiations with scores of potential owners.More news: Prima Games is shutting down after 28 years
Its Board of Directors made the decision to wind up its nuclear arm, NuGeneration, which planned to construct the Moorside project.
"However, notwithstanding negotiations with multiple companies, Toshiba is unable to anticipate to complete the sale of NuGen during financial year 2018 to March 2019".
The Moorside site is owned by the Nuclear Decommissioning Authority and remains a site designated by government for nuclear new build.
NuGen was initially co-owned by Toshiba and the French firm Engie.
She added: "As Toshiba has opted to pull the plug on this project then the government must step in". Mrs Harrison, Copeland MP, will also meet with the UK Government's minister for nuclear on Monday. (KEPCO) had been a preferred bidder but lost that status in July as delays to concluding a deal dragged on.
Prospect union insists the government "must step in" and take a share.More news: The BMW M8 could have more than 600 horsepower
The struggling Japanese engineering firm revealed its NuGen vehicle was to be shut down early next year as part of renewed efforts to shore up its finances following its disastrous acquisition of U.S. nuclear energy firm Westinghouse.
Toshiba Corp. said on Thursday it would scrap a British nuclear plant project after failing to find an investment partner, but South Korea indicated it was still interested in building a reactor at the site.
The move resulted in Engine's withdrawal and led Toshiba to look for buyer for NuGen.
Unions and Labour have attacked the Government for not intervening to ensure the project went ahead - but anti-nuclear campaigners said the decision proved nuclear power was not economically viable.
"Relying on foreign companies and countries for our essential energy needs is utterly irresponsible", he added.More news: Manchester United forward Anthony Martial earns recall to France squad