Monday 27 March 2017

UK and China to sign nuclear deal this week

The UK and China are set to announce a deal that will give the Asian nation a stake in Electricite de France (EDF) SA's Hinkley Point project - Britain's first nuclear plant in three decades and the most expensive atomic energy station ever.

The proposed deal is likely to be announced this week and follows protracted talks between EDF and its Chinese partners.

The UK government says new nuclear plants are a crucial part of the energy mix, as Britain plans to cut carbon emissions while securing predictable electricity supplies.

With construction costs estimated at £24.5bn (€33.3bn) by the European Commission and bolstered by UK subsidies at twice the current wholesale power price, opponents have described Hinkley as "the most expensive object on earth".

Irish Independent

Promoted articles

Also in Business