The $ 23.8 billion Hinkley Point C nuclear project has received the UK government’s green light, but the country wants to ensure that project’s ownership cannot change without government agreement.

After a “comprehensive review” of the project and a revised agreement with French power generator EDF, the UK Department for Business, Energy, and Industrial (DBEI) Strategy on September 15 confirmed plans to build the nation’s first new nuclear power plant in decades in Somerset, southwest England.

EDF will build the plant with a $ 7.94 billion investment from Chinese state nuclear firm China General Nuclear.

EDF made a final investment decision to proceed with construction of two EPR units (after a lengthy review process and several postponements) on July 28. But in an abrupt turn, just as contracts between EDF and the UK government were to be signed on July 29, the government signaled that it would carefully reconsider an agreement reached with EDF on key commercial terms reached in October 2013.…

Read More »