China, France sign deal to construct nuclear power reactors in UK

China and Electrcite de France SA (EDF) will construct two nuclear reactors at the Hinkley Point site in southwest England.

Britain has clinched a deal with France and China to build the UK’s first nuclear power station in 20 years, media reports say.

As per the deal, China and Electrcite de France SA (EDF) will construct two nuclear reactors at the Hinkley Point site in southwest England, which will be the first in the UK since the Sizewell B power station came on stream in 1995.

The nuclear reactors, once completed, will commence delivering energy to 7 million homes from 2023, and will also cut consumer fuel bills by more than £75 a year from 2030.

EDF will hold a 45 to 50 percent stake in the pressurized water reactors, while China General Nuclear Corporation (CGN) and China National Nuclear Corporation (CNNC) will hold a 30 to 40 percent combined share and Paris-based Areva, will have a 10 percent stake for giving consultation on the technology and design.

The consortium could build a second plant on the Sizewell site in Suffolk, which altogether will have the capacity to produce 7 percent of UK electricity under the 35-year contract.

This is the first contract the Conservative-led coalition government has struck in an attempt to attract £110 billion of investment into Britain’s outdated electricity industry by 2020.

MOL/PR/HE