'Final steps are well in hand' for building Hinkley C, says EDF
has said today that "final steps are well in hand" to
enable the full construction of Hinkley Point C near Burnham-On-Sea
despite press reports that it is under pressure to abandon the
EDF has agreed a deal in principle under which China General
Nuclear Power Corporation (CGN) will pay a third of the cost of
the £18bn project in exchange for a 33.5% stake.
The company said this morning (Tuesday): "Hinkley Point
C is a strong project which is fully ready for a final investment
decision and successful construction."
"Final steps are well in hand to enable the full construction
phase to be launched very soon."
Reports in the national press indicate the company is struggling
to find the cash for its 66.5% stake.
decision had been expected by EDF yesterday (Monday) on whether
it would commit to the £18.6bn project with a final investment
company's board has also received a report which warns
that the nine-year timetable to complete the two nuclear reactors
is impossible to meet and could be 'financially disastrous' for
built, Hinkley Point C will create thousands of jobs and generate
seven per cent of Britain's electricity by 2025, despite opposition
Hinkley spokesperson Roy Pumfrey said: "We are calling on
EDF to scrap these plans as soon as possible so that communities
in Somerset can get on with planning a sustainable energy future.
The Government should stop taking UK energy policy down this nuclear
cul-de-sac and get on with implementing a sensible renewable energy
Simon, a Green Party campaigner, added: "This project has
faced major challenges from the outset. EDF first announced Hinkley
C in 2013 and said in 2015 that Chinese utility CGN would take
a 33.5 percent stake in the project, but yesterday it was announced
that the decision has now been delayed for the 10th time, as it
struggles to find financing."
to national press reports, Yannick d'Escatha, the former head
of French state nuclear agency CEA, has raised serious doubts
about whether the Hinkley Point C project could be completed on
the project's budget is bigger than EDF's market value. EDF's
unions, which have six seats on the firm's 18-member board, are
also reportedly opposed to the project and have said they will
vote against it.
The western end of Hinkley Point Nuclear Power Station looking
towards Burnham-On-Sea in the far background (photo Richard Baker)