PM Cameron hails Chinese nuclear power plant deal as ‘historic’


LONDON (AP) — Prime Minister David Cameron says China's agreement to partly finance a U.K. nuclear power plant is a "historic" deal that will create thousands of British jobs.

President Xi Jinping signed an agreement Wednesday that will see China's state-owned power company take a $9.3 billion 35 percent share in a new plant to be built with France's EDF.

The plant has become a focus for critics of Britain's push to increase relations with China, the world's second-largest economy. Some accuse Cameron of wooing the Chinese for trade deals while ignoring the country's human rights record.

At a joint press conference with the Chinese leader at Downing St., Cameron said a strong economic relationship could go alongside some frank disagreements.

He said "the stronger the relationship between our countries, the more we'll be able to have a serious dialogue."

The plant in Somerset — set to be completed by 2025 — will be built by EDF, in conjunction with a consortium led by Chinese state-owned nuclear company CGN.

EDF sought outside investors after being unable to cover the cost of the deal alone. Britain's government is also offering a guarantee.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Latest Energy Jobs

View more Job Listings >>