nuclear-news

China drops out of British nuclear power program.

China was providing 1/3 of the capital for the Hinkley Point 2xEPR reactor project in the UK, with the aim of smoothing the waters for China to build its own reactors in the UK (Bradwell). But the British govt effectively cancelled China’s plans to build reactors in the UK, for various reasons including cybersecurity.

Now, China, has pulled funding for Hinkley Point! France’s EDF, which is already carrying over A$100 billion in debt and was fully nationalised this year, may have to pick up the slack to keep Hinkley going. Or maybe the British govt increases its subsidies for Hinkley Point. Already, the UK National Audit Office estimates that British taxpayer subsidies for Hinkley Point could amount to £30 billion (A$56.4 billion).

Amazing.

‘China’s CGN Halts Funding for UK’s Hinkley Point Nuclear Plant’

‘Withdrawal comes after UK took over CGN stake in other project’

‘EDF may have to fund multibillion completion of plant alone’

https://www.bloomberg.com/news/articles/2023-12-13/hinkley-point-nuclear-plant-in-uk-stops-getting-funding-from-china-s-cgn

December 15, 2023 - Posted by Christina Macpherson | Uncategorized