Korea Electric Power (KEP) , the largest electric utility in South Korea, President Cho Hwan-eik said Wednesday that the company wants to buy a stake in a UK nuclear venture from Toshiba  (TOSYY) .

NuGeneration, a joint venture between Toshiba and Engie  (ENGIY) , a French utility, plans to build a nuclear power plant in northwestern England.

Toshiba acquired a 60% stake for 102 million pounds ($126 million) in 2014.

"We'll be the first to make an offer" once the provisions are arranged, including equity and debt structures, Cho stated.