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Sizewell C nuclear power station, thrown into doubt as China ponders pulling out of £20bn project

Sizewell C nuclear power station, thrown into doubt as China ponders pulling out of £20bn project, This Is Money, By FRANCESCA WASHTELL FOR THE DAILY MAIL 12 December 2020 

China is considering pulling out of the Sizewell C nuclear plant in a move that throws the future of the project into doubt.

The country’s nuclear agency, China General Nuclear Power (CGN), is planning to duck out of the next phase of the £20billion project, claim industry sources.

CGN holds a 20 per cent stake in the Suffolk plant and has spent years developing it with French energy giant EDF.

The agency has not revealed how much it has invested in the Sizewell C development phase, though it is estimated to be hundreds of millions.

Its departure at the construction stage could leave a huge hole in the project’s funding – and could deal another body blow to the Government’s energy strategy.

The reports come as tensions between London and Beijing have flared since the Government’s decision to exclude Huawei’s equipment being used in new 5G networks.

The recent clampdown on foreign investment and takeover rules have also added to the hostility.

An industry source said: ‘If the UK were to lose Chinese know-how in nuclear it would be a shame given their expertise in building and operating the reactors that would be used at Sizewell C.’………. https://www.thisismoney.co.uk/money/markets/article-9044795/Sizewell-C-nuclear-plant-doubt-China-ponders-pulling-out.html

 

December 12, 2020 - Posted by | politics, UK

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