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UK govt wants sovereign wealth funds to invest in nuclear power, -calling it ”green”, but there are doubts that nuclear projects will go ahead.

FT 28th April 2021, UK woos sovereign wealth funds over green investments. The UK is in talks
with some of the world’s biggest sovereign wealth and pension funds about
investing in British green energy projects. UK minister Gerry Grimstone
told the Financial Times that he has had discussions with investors
including Temasek and GIC, the Singaporean sovereign wealth funds, as well
as Australian and Canadian public pension schemes.

But Grimstone, former chair of Standard Life Aberdeen, also acknowledged there were questions
about whether one of the UK’s largest planned inward investments — a
nuclear power station proposed by Chinese state group CGN — would

Grimstone said the government wanted to secure investments in
British low-emissions projects, ranging from factories to make batteries
for electric cars to offshore wind farms and carbon capture and storage.

China’s CGN has been blacklisted by the US amid increasing tension
between Beijing and western governments and Grimstone said the company’s
planned nuclear power station at Bradwell in Essex would depend on several
factors. “As ever with these things, the question will be as to whether
it’s to our mutual advantage and whether there’s sufficient
safeguards,” he added. “If you read the energy white paper before
Christmas it’s by no means certain that this country is going to be
building large nuclear power stations. “

April 29, 2021 - Posted by | Uncategorized

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