Hinkley Point Approved

After months of delays and uncertainty, the government has approved the new £18bn nuclear power station at Hinkley Point in Somerset.

16:59 19 September 2016

The government has approved the nuclear plant deal being financed by the French and Chinese governments. However, ministers will be able to stop EDF, the state-controlled French energy firm, from selling its stake in Hinkley to protect national security.

 

Jean-Bernard Lévy, chief executive of EDF, which is funding two-thirds of the project: "The decision of the British Government to approve the construction of Hinkley Point C marks the relaunch of nuclear in Europe."

 

The Chinese, which invests the remaining £6bn, has agreed to take the stake in Hinkley and to develop a new nuclear power station at Sizewell in Suffolk on the understanding that the UK government would approve a Chinese-led and designed project at Bradwell in Essex.

 

The Department for Business 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."