Construction on the $27.5 billion Hinkley Point C nuclear power plant in England could restart “within weeks,” said EDF Chairman Jean-Bernard Levy on Wednesday following a signing ceremony that nailed down a China General Nuclear Power Corporation (CGN) investment in the project.
Events surrounding Chinese President Xi Jinping's visit to Britain this week were star-studded. They included events attended by Chinese actor Jackie Chan and British royalty. President Xi meet with the Duke and Duchess of Cambridge Kate Middleton and Prince William and attended a state banquet at Buckingham Palace with Queen Elizabeth II.
The highlight of the trip from a business point of view was about nuclear power. Terms were laid out for construction of power plants at Hinkley Point C, Sizewell in the Suffolk county and Bradwell in Essex county.
British Energy Secretary Amber Rudd said government would support nuclear power “as we move to a low-carbon future,” that would provide “financial and energy security for generations to come.”
The industry would support 25,000 jobs in Britain in construction and plant operations, Rudd said. He Yu, chairman of CGN, said the deals meant a “new phase for CGN,” calling the deal a “triple-win for the existing nuclear energy partnership between China, France and the UK.”
The Hinkley Point C project calls for two EPR reactors, which are expected to meet 7 percent of the county's electricity demand. French utility EDF is the designated designer for the plant, which already has an established supply chain that includes AREVA NP as the contacted supplier of nuclear steam supply system, instrumentation and control, Alstrom France for turbine supply and Alstom UK for services during operations.
Bouygues TP/Laing O'Rourke is contracted for the principal civil work involved, while BAM Nuttal/Kier Infrastructure is set to provided earthworks for the project. Final terms for these contracts are in place, according to media reports.
EDF and CGN have also signed agreements to jointly develop Sizewell C, which will include two EPR reactors with CGN taking a 20 percent share of the project, while EDF holds 80 percent.
On the project known as Bradwell B, agreements were signed for construction of a third generation HPR1000 reactor customized for Britain, but based on the Fangchenggang power plant's Unit 3-4 in China.
A newly formed joint venture company will be established for the Generic Design Assessment phase of the project for which CGN is expected to take a 66.5 percent stake in development, while EDF holds 33.5 percent.