French utility to announce China deal
Print Edition
FRENCH utility EDF hopes to announce a deal with Chinese investors to build a nuclear plant at Britain’s Hinkley Point, in the coming days, its chief executive said yesterday.
Jean-Bernard Levy said EDF was in final negotiations with its Chinese partners, but said he did not want to anticipate what would happen during President Xi Jinping’s visit to Britain.
“If all goes well, we will be able to announce major news in coming days; the first nuclear new-build in Europe since the Fukushima accident,” Levy said on television station iTELE.
Levy defended the 92 pound (US$142) megawatt-hour power price the British government will guarantee for 35 years.
“Britain is not giving guarantees to do us a favor, but because Hinkley Point will provide power 24 hours a day for 60 years. Security of supply has a value,” he said.
The 16 billion pound project to build two Areva-designed EPR reactors was announced in October 2013, but financial problems at Areva and long delays at two EPR reactors under construction in France and Finland delayed the project.
Levy said nothing about what size stake Chinese investors might take. Originally, China General Nuclear Corporation and China National Nuclear Corporation were set to take a combined 30-40 percent.
“We expect to put in place a partnership with CGN, our partner in China for more than 30 years,” Levy said.
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