UK govt. to announce new nuclear plant deal
Iran Press TV
Sun Oct 20, 2013 7:39PM GMT
The British government is to announce a deal to build the country's first new nuclear plant, media reports say.
London has been in negotiations for more than a year with France's state-owned utility EDF over the Hinkley C project, which will be the first new nuclear power station in Britain since 1995.
Under a deal, which is set to be announced on Monday at an estimated cost of £14 billion ($23 billion), the French utility will lead a consortium to construct two reactors at the Somerset site.
According to reports, EDF's partner China General Nuclear Power Group (CGNPG), possibly together with China National Nuclear Corporation (CNNC), is also expected to have stakes in the consortium.
Earlier this week, British Chancellor George Osborne said London has decided to allow Chinese companies to own majority stakes in the country's nuclear power plants.
He made the announcement during a visit to the Taishan nuclear power plant in south China, which is a joint project between CGNPG and EDF.
This comes after a recent report warned of a growing risk of power shortages in the UK over the next two years.
The Royal Academy of Engineering (RAE) said the closure of older power stations and the slow progress in building new ones were likely to stretch the supply system in Britain 'close to its limits, notably during the winter of 2014-15."
SSM/PR/HE
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