French utility EDF and the British government have signed an agreement to build two nuclear reactors for a total cost of £16bn (€19bn), EDF said in a statement today.
EDF said it would have a 45pc to 50pc stake in the consortium to build two Areva-designed EPR reactors at Hinkley Point C in Somerset, southwest England.
China General Nuclear Corporation (CGN) and China National Nuclear Corporation (CNNC) will have a combined stake of 30 to 40pc while Areva will take a 10pc stake.
Discussions are also taking place with a shortlist of other interested parties which could take up to 15 percent, EDF said.
The contract will last for 35 years from the date of commissioning, with an electricity price set at £92.5 per megawatthour, or £89.5 if a second nuclear plant project at Sizewell goes ahead.