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France gives €3bn bailout to EDF’s Hinkley nuclear plant

Tax - payersflag-franceFrance gives €3bn lifeline to Hinkley nuclear plant, Sunday Times, Robin Pagnamenta, Energy Editor, 24 Apr 16A decision on the proposed nuclear power station will not be taken until after an EDF shareholders’ meeeting Erance has thrown its support behind EDF, the French electricity company, and its plan to build the £18 billion nuclear power station at Hinkley Point, Somerset, by supplying a €3 billion lifeline.

President Hollande’s administration has agreed to put in the money towards a proposed €4 billion (£3 billion) cash-raising the company is proposing by issuing new shares. EDF said last night that the confirmation of the fundraising made it possible for the company to proceed with investments including Hinkley Point C by putting it on a “solid financial footing”……

April 25, 2016 - Posted by | France, politics

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