Hinkley Point Nuclear Power Plant: UK approves nuclear plant deal

Posted by Neno Duplan

The British government has approved a new $24 billion nuclear power station in the UK after imposing “significant new safeguards” to protect national security.

The new plant at Hinkley Point in Somerset is being financed by the French and Chinese governments.

However, the UK government says it will have control over foreign investment in “critical infrastructure”.

UK Government will be able to stop EDF, the state-controlled French energy firm, from selling its stake in Hinkley.

Jean-Bernard Lévy, chief executive of EDF, which is building the plant, said: “The decision of the British Government to approve the construction of Hinkley Point C marks the relaunch of nuclear in Europe.”

EDF is funding two-thirds of the project, which will create more than 25,000 jobs, with China investing the remaining.

The Chinese agreed to take a stake in Hinkley, which will meet 7% of Britain’s energy needs, and to develop a new nuclear power station at Sizewell in Suffolk on the understanding that the UK government would approve a Chinese-led and designed project at Bradwell in Essex. That decision has raised questions over national security.

 

Leave a reply