Hinkley Point: UK approves nuclear plant deal

[Vergennes]

Artist's impression of Hinkley Point C building proposals


The government has given the go ahead for a new £18bn nuclear power station in the UK after imposing "significant new safeguards" for future projects.

The new plant at Hinkley Point in Somerset is being financed by the French and the Chinese.
In exchange, China wanted to use its design for new UK nuclear stations.

However, the government said it would now "impose a new legal framework for future foreign investment in Britain's critical infrastructure".

Critics of the deal have warned of escalating costs and the implications of nuclear power plants being built in the UK by foreign governments.

The Chinese agreed to take a stake in Hinkley and at Sizewell on the understanding that the UK government would approve a Chinese led and designed project at Bradwell.

In a statement, the government said: "After Hinkley, the British Government will take a special share in all future nuclear new-build projects. This will ensure that significant stakes cannot be sold without the government's knowledge or consent."

The Bradwell part of the deal has raised questions over national security, and it is thought that the conditions attached to the Hinkley approval may include greater oversight and scrutiny of China's involvement.

The decision on investment was approved by EDF's board in July, and was agreed in principle with China during the state visit by President Xi Jinping to the UK in October 2015.

http://www.bbc.com/news/business-37369786