investors agree €4bn Hinkley Point C power station fundraising
shareholders have signed off on €4bn of equity fundraising
to help pay for the new Hinkley Point C nuclear power plant near
Burnham-On-Sea a project that the company expects to approve
agreed to the package of financing on Tuesday, with the French
state, which owns 85 per cent of the indebted company, agreeing
to subscribe to €3bn-worth of the new shares.
agreement paves the way for its board to make the long-delayed
final investment decision on the £18bn nuclear power plant
at Hinkley Point, which will supply seven per cent of the countrys
Lévy, the companys chief executive, said at an extraordinary
shareholders meeting: "We need to boost our equity as market
conditions are tough and we need to maintain the quality of our
debt and our credit rating."
added that the money would not be spent solely on Hinkley Point
a project that has sparked anger among French unions
but would also be used to upgrade ageing French reactors and install
smart power meters.
EDF announced this Thursdays meeting just hours after Prime
Minister Theresa May met François Hollande, the French
president, for the first time since she took office earlier in