EDF Plans Final Hinkley Point C Financial Decision This Week

Hinkley Point C

France-based EDF says it will reach a final investment decision on the 3.2-GW Hinkley Point C nuclear project this week.

EDF called a July 28 meeting of its Board of Directors to discuss funding for two European Pressurized Reactors (EPR) at Hinkley Point C in England. If financing is approved, the utility said construction could begin on the reactors in mid-2019 to coincide with the start-up of the EPR at Flamanville in France, set for the end of 2018. The Flamanville project is current behind schedule and billions over budget.

The controversial £20.7 billion ($30 billion) project is backed by the French and British governments, and China General Nuclear Corp. agreed to buy a one-third stake in the project. EDF’s chief financial officer resigned earlier this year, saying the project would jeopardize the company and should be delayed while finances are bolstered. A French trade union also opposes the project.

EDF says the project is a major element of the company’s CAP 2030 strategy and would strengthen its presence in Britain, where EDF Energy already operates 15 reactors.

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