HomeWorld RegionsAsiaHinkley Point C deal set to be formalised

Hinkley Point C deal set to be formalised

The British and French governments are set to formally sign the deal to progress with Hinkley Point C nuclear power plant today, two months to the day since Prime Minister Theresa May postponed the initial UK decision.

On Thursday afternoon the government is also expected to publish some of the key documents linked to the deal. These will include the Contract for Difference and the waste transfer agreement that covers nuclear waste generated by the plant.
Hinkley Point C nuclear power plant construction site
The new British government had opted for the delay in order to further examine the nuclear power deal’s financial implications as well as security concerns associated with the involvement of Chinese partner China General Nuclear.

The deal includes a clause enabling the government the right to block the sale of EDF’s controlling stake before or after completion of the project.

Thursday’s ceremony is expected to be more low key than the one planned for July. It will be attended by France’s Foreign Minister Jean-Marc Ayrault and Britain’s Business and Energy Secretary Greg Clark, as well as China’s National Energy Administration Director Nuer Bekri; EDF Chief Executive Jean-Bernard Levy; and He Yu, chairman of China General Nuclear Power Corporation (CGN), the project’s Chinese state-backed investor, the sources familiar with the matter said.