January 18, 2015
Hinkley Point deal with Chinese partners 'set to be signed in March'

The French nuclear power developer EDF is set to sign an investment agreement with Chinese finance partners for a new reactor at Hinkley Point C near Burnham-On-Sea by the end of March.

The plant would be the first overseas venture for the China General Nuclear Power Corp, according to media reports this week.

The government says the civil nuclear agreement signed by the UK and China could be “worth hundreds of millions of pounds to British companies over several years.” It has paved the way for Chinese companies to invest in Hinkley Point C.

Energy and Climate Change Secretary Ed Davey said: “China and the UK stand united in our plans for more collaborative working that will help to achieve long lasting energy security in our own countries.”

But the government has refused to reveal whether its National Security Council approved or discussed China's investment in the proposed £24.5 billion nuclear power plant, citing “national security.”

Despite a Freedom of Information request for information regarding China's expected 30-40 percent stake in the new nuclear site, the government has denied further disclosure.

The nuclear plant is not the only UK energy project that China co-finances. The state-owned China General Nuclear Corporation is reportedly prepared to pay £100 million for an 80 percent stake in three British wind farms.

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