Chinese Companies Gain Stake in Hinkley Point C project

 Chinese Companies Gain Stake in Hinkley Point C Project

Two Chinese companies will own one-third of the Hinkley Point C nuclear power project in the UK.
French power company EDF said it sold a 33.5 percent stake in the two-unit, 1.6-GW nuclear project worth 25 billion pounds ($38.7 billion) to China General Nuclear Power Corp. and China National Nuclear Corp, according to Yahoo News.

The £16 billion ($17.3 billion) project was announced in 2013, but financial troubles from reactor provider Areva and a dispute over a financing scheme for the project have delayed the start of construction. The plant is expected to be completed by 2025, two years after the original deadline. The UK government pledged to fund a $3.1 billion loan guarantee for project construction in September.
As part of the agreement, China could potentially build a Hualong reactor at EDF’s Bradwell nuclear plant in the UK. Hinkley Point C would consist of two European Pressurized Reactors from Areva.
Subscribe to Nuclear Power International magazine

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


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

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

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...