Hinkley Point C nuclear plant gets green light from UK government
- 8 years ago
The British government has approved a 21 billion euros nuclear power station after securing ‘significant new safeguards’ for future foreign investments.
It comes after prime minister Theresa May paused the signing of the deal over concerns about Chinese investment in the UK’s nuclear industry.
The new plant in Somerset is being financed by French company EDF and the Chinese government had pledged 7 billion euros, if it could then lead a Chinese-designed power plant in Essex.
Hinkley would be the first new nuclear reactor built in twenty years, and create an estimated 25,000 new jobs.
However, critics pointed out that the electricity price promised to French energy firm EDF was set too high.
Britain should cancel Hinkley Point and spend the billions on making renewables work https://t.co/FiH0lh1b4X pic.twitter.com/1N9S8ESu6K— The Economist (@TheEconomist) September 15, 2016
It comes after prime minister Theresa May paused the signing of the deal over concerns about Chinese investment in the UK’s nuclear industry.
The new plant in Somerset is being financed by French company EDF and the Chinese government had pledged 7 billion euros, if it could then lead a Chinese-designed power plant in Essex.
Hinkley would be the first new nuclear reactor built in twenty years, and create an estimated 25,000 new jobs.
However, critics pointed out that the electricity price promised to French energy firm EDF was set too high.
Britain should cancel Hinkley Point and spend the billions on making renewables work https://t.co/FiH0lh1b4X pic.twitter.com/1N9S8ESu6K— The Economist (@TheEconomist) September 15, 2016