China investing £6 billion in Hinkley Point nuclear project

Artist’s impression of Hinkley Point C

China is investing £6 billion in the Hinkley Point nuclear project in Somerset.

The announcement was made at a news conference by Prime Minister David Cameron and Chinese President Xi Jinping.

China General Nuclear Power Corporation (CGN) reached an agreement with French nuclear plant operator EDF to invest £6 billion in Hinkley for a 33.5 per cent stake of the nuclear power station.

CGN will also build two reactors at Sizewell in Suffolf.

In return EDF will help CGN obtain a license to develop a Chinese-designed nuclear power station at Bradwell in Essex.

Building a plant in the UK will help China expand its nuclear power presence in other markets.

The Hinkley power station will not be fully operational for at least another decade. The UK said that the new project is necessary to replace old reactors and polluting coal plants.

Hinkley will be the European Union’s first new nuclear plant since 2011. The final cost of the project is £18 billion. EDF has said that could sell another 15% stake in the project.

The government guaranteed a price of £92.50 per megawatt hour of power that the Hinkley plant generates for the next 35 years. However, this is more than twice the current cost, which some believe could make energy more expensive for British consumers.

The UK government hopes that the project will boost the development of nuclear power stations.

“The Government will support new nuclear power stations. Hinkley Point C will kick-start this and is expected to be followed by more nuclear power stations,” said Britain’s Energy Minister, Amber Rudd, in a statement.

1 Comment
  1. Brian Donovan says

    Only because of massive gov welfare.

    Nuclear power is short of fuel in ten years, and is the most expensive energy there is.

    “As we look to the future, presently known resources
    fall short of demand.”
    Fig 16 show the shortfall in 2025 and it going 1/4 of that 2050
    fig 20 also show shortfall.
    IAEA Pub1104_scr.pdf

    Lazard energy version 8 nuclear is 4 times the cost of available solar and wind.

    Nuclear power is incredibly dirty with billions of tons of tons radioactive heavy metal mining tailings
    and billion of tons of contaminated water, including large water tables and aquifers. That’s tons of deadly waste per person on the planet for just 2% of the world’s energy production for 70 years.
    Why on earth would anyone build new nuclear?

    Nuclear power plant emissions, accidents, disasters, mining, and wastes will causes million of cancers. The billion dollar per year nuclear industry pr campaign and the captive gov promoting nuclear refuse to use LNT in the predictions, and refuse to acknowledge the studies that show millions of cancers.

Leave A Reply

Your email address will not be published.