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UK Government gives approval to Hinkley Point C
- 8 years ago (2016-09-16)
- David Flin
The UK Government has given approval for the £18 billion Hinkley Point C nuclear power plant, following delays in finalising the agreement. This ends a period of uncertainty that had caused political strains with France and China, and it will be the first nuclear power station built in the UK for a generation.
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Hinkley Point C will be built by EDF of France, and will include £6 billion of investment from China General Nuclear Power Corporation (CGN).
The UK Government also set out a new investment policy designed to give it greater control over future deals when foreign states were involved in buying stakes in “critical infrastructure.”
Greg Clark, UK Secretary of State for Business, Energy, and Industrial Strategy, said: “Britain needs to upgrade its supplies of energy, and we have always been clear that nuclear is an important part of ensuring our future low-carbon energy security. Having thoroughly reviewed the proposal for Hinkley Point C, we will introduce a series of measures to enhance security and will ensure Hinkley cannot change hands without the Government’s approval. Consequently, we have decided to proceed with the first new nuclear power station for a generation.” The Government said that it would be able to stop the sake of EDF’’s controlling stake before or after completion of the project. EDF said it had agreed with the government to retain control of the project.
According to the current construction schedule, the plant will start supply electricity to the grid by 2025.