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1st LD: Parties sign final agreements on Hinkley Point nuclear project

Xinhua, September 29, 2016 Adjust font size:

China General Nuclear Power Corporation (CGN) announced Thursday that it has signed all final agreements for the Hinkley Point C (HPC) project, and a suite of agreements relating to the projects of Sizewell C and Bradwell B, with French energy company EDF and the British government.

This means that all the necessary government and commercial approvals have been completed for Hinkley Point C project and the flagship project of the "golden era" for China-Britain relations can now move forward after two months of delay.

This follows the Britain's decision to proceed with the project following a comprehensive review and revised agreement with EDF.

During a signing ceremony in London, British Secretary of State for Business, Energy and Industrial Strategy Greg Clark, chairman and CEO of EDF Jean-Bernard Levy, and the chairman of CGN He Yu signed the final documentation to enable Hinkley Point C to go ahead.

"Signing the contract is a crucial moment in the UK's first new nuclear power station for a generation and follows new measures put in place by government to strengthen security and ownership," said Clark.

"Britain needs to upgrade its supplies of energy, and we have always been clear that nuclear power stations like Hinkley play an important part in ensuring our future low-carbon energy security," he added.

At the same time, the agreements will also enable preparatory work to begin on Bradwell B, allowing CGN to put its HPR1000 technology through Britain's generic design assessment (GDA) process.

The Hinkley Point C project is located in Somerset and is a joint project between CGN and EDF in which CGN will have a 33.5 percent interest. According to the final investment agreement, construction of HPC can now commence with completion expected in 2025.

The proposed Bradwell B project will be located in Essex, subject to the HPR1000 design receiving GDA approval, and will consist of two HPR1000 reactors each with an output of 1.15 gigawatt. CGN will have a 66.5 percent interest in Bradwell with the remainder held by EDF.

HPR1000 is based on leading third generation nuclear technology and is China's nuclear technology of choice for export. CGN's Fangchenggang Unit 3, currently under construction in southern China, will be the reference plant for Bradwell B. Enditem