Hinkley Point: UK approves nuclear plant deal
September 15, 2016
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.
Critics of the deal have warned of escalating costs and the implications of nuclear power plants being built in the UK by foreign governments. France's EDF is funding two-thirds of the project, with China investing the remaining £6bn.
The Chinese agreed to take a stake in Hinkley and at Sizewell in Suffolk on the understanding that the UK government would approve a Chinese-led and designed project at Bradwell in Essex, which has raised questions over national security.
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."
It added: "There will be reforms to the government's approach to the ownership and control of critical infrastructure to ensure that the full implications of foreign ownership are scrutinised for the purposes of national security."
Energy Secretary Greg Clark, said: "Having thoroughly reviewed the proposal for Hinkley Point C, we will introduce a series of measures to enhance security and will ensure Hinkley cannot change hands without the government's agreement.
Article from BBC website: http://www.bbc.co.uk/news/business-37369786