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Electricite de France wants pension funds to cough up for building Sizewell nuclear project

EDF Wooing Pension Funds to Finance Sizewell U.K. Nuclear Plant, Bloomberg, By Rachel Morison 12 pension funds interested in backing plant in East Anglia  Plant would lower nuclear costs by copying design of Hinkley

The developer of Britain’s first nuclear power station in more than three decades has approached 12 pension funds about helping finance a sister plant on the other side of the country.

Electricite de France SA is working on ways to pay for its Sizewell C project in East Anglia that will make it cheaper than the Hinkley Point C nuclear plant it’s building on the coast of Southwest England. Hinkley has been a lightning rod for controversy since the government pledged to pay 92.50 pounds ($122) a megawatt-hour for its power, more than 60 percent more than the latest offshore wind farms……..

Prime Minister Theresa May’s government has estimated it needs to draw in 100 billion pounds within the next decade to upgrade power grids and replace aging generation plants as the bulk of Britain’s nuclear fleet finishes its life in service. ……..https://www.bloomberg.com/news/articles/2018-07-26/edf-wooing-pension-funds-to-finance-sizewell-u-k-nuclear-plant

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July 27, 2018 - Posted by | business and costs, politics, UK

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