Friday, 18 October 2013

China General Nuclear Power Corp. and Areva to join Hinkley Point UK nuclear consortium

Date: 17-Oct-13
Country: FRANCE
Author: Geert De Clercq

French nuclear group Areva is ready to join the EDF-led consortium that
plans to build a nuclear plant at Hinkley Point in the UK, Bloomberg
reported on Wednesday, quoting people with knowledge of the matter.

Bloomberg said China General Nuclear Power Corp. would also become a
shareholder and that Areva and EDF's boards would meet next week to
approve the deal.

Areva and EDF declined to comment on the report.

Areva would take a stake in the project from French utility EDF, allowing
EDF to share the cost of building two Areva-designed EPR reactors
estimated at 14 billion pounds (16.5 billion euros).

On Sunday, British Energy Minister Ed Davey said Britain was "extremely
close" to sealing a deal with EDF unit EDF Energy to build the country's
first new nuclear power station since 1995, adding there would also be
Chinese involvement in the talks.

The British government and EDF have long been in talks over financial
terms to build a new nuclear plant at Hinkley Point in Somerset, southwest

The Financial Times reported on Saturday that British Finance Minister
George Osborne would sign a memorandum of understanding this week to back
Chinese General Nuclear Power Group (CGNPG) entering a deal with EDF for
the planned Hinkley Point plant.

(Reporting by Geert De Clercq; editing by David Evans)
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