Hinkley Point C formal go-ahead could be signed in October
10 August 2015
A final agreement to build Hinkley Point C, the planned £24.5bn nuclear power station in Somerset, could be signed next month. The Secretary of State for Energy, Amber Rudd, said on August 7 that David Cameron and China’s president Xi Jinping could sign the deal at a planned meeting in the UK in October.
Image: Alan Franck
More than two thirds of the cost of the project will be provided by two Chinese companies.
Ministers in the Department of Energy and Climate Change have reportedly reached agreement with the EDF Energy to develop Hinkley Point C, and will approve the project after parliament’s summer recess.
As part of the contract, EDF and China General Nuclear will be responsible for any cost overruns in the construction of the plant.
On July 31, EDF Energy, the UK subsidiary of French energy company EDF, announced further preferred bidders for the project with a combined contract value of £1.3 billion ($2.0 billion).
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