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Oct
2015
Wednesday 21st
posted by Morning Star in Britain

BRITAIN’S first nuclear power plant in a generation got a boost yesterday as China confirmed investment in the multi-billion pound facility.

French energy giant EDF will give an update on its new site at Hinkley Point in Somerset as it prepares to make a final investment decision.

Chinese President Xi Jinping is set to make formal announcement today — his second day of a state visit to Britain.

Mr Xi is due to attend a business meeting with Prime Minister David Cameron at which the nuclear project will be discussed.

There has been speculation that China will own a third of the power station, which was priced at £16 billion in 2012.

But it will now cost over £24bn when inflation and financing costs are taken into account.

Construction of Hinkley Point C will create 25,000 employment opportunities and will support 900 direct jobs during its 60-year lifetime.

However green campaign groups including Greenpeace and Friends of the Earth have warned that the subsidies will come at the expense of renewables and add to consumers’ bills.




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