CHANCELLOR George Osborne has today announced a £2bn deal in support of a new nuclear power station at Hinkley Point in Somerset.
The Treasury said that the deal would “pave the way for a final investment decision by energy company EDF, supported by China General Nuclear Corporation and China National Nuclear Corporation, later this year”, and that more investment could be secured in the future subject to European Commission and government approval.
The chancellor made the announcement today as part of a five-day tour to China, and highlighted the involvement of the Chinese nuclear energy companies.
Osborne called the deal “another move forward for the golden relationship between Britain and China – the world’s oldest civil nuclear power and the world’s fastest growing civil nuclear power”.
EDF energy chief executive Vincent de Rivaz said: “We welcome the government’s support for the industrial participation by EDF and its Chinese partners.”