This is the end of a 15 -year -old soap opera. The British government announced on Tuesday, July 22, the conclusion of a financing agreement for the largest nuclear project in the United Kingdom on Tuesday, July 22 since the beginning of the century: the Sizewell C plant will cost almost 45 billion euros will indicate the authorities.
The Government will be the first shareholder, with 44.9%, ahead of the Quebec deposit and placement fund (CDPQ, 20%), the British Energy Group Centrica (15%) and the Amber Infrastructure British Investment Fund (7.6%).
The French energy company EDF, responsible for building the reactors, had already announced at the beginning of the month its participation of 12.5% for “a maximum amount of 1,100 million pounds” (1.26 billion euros).
Since the launch of the project in 2010, the appointment has almost doubled. Other private investors have been called to complete the financing of these two nuclear reactors, which are supposed to provide electricity to 6 million homes.
More favorable than Hinkley Point
According to The Guardian, this agreement will be more favorable for EDF than the one found for the other important British nuclear project of Hinkley Point C. The latter turns out to be a “financial abyss” for the 100% arrested group by the French state, according to the Aurélie agents found and Charles de Courson.
The French energy company will be paid from the beginning of the construction of the Sizewell C plant, through domestic electricity invoices, when Hinkley Point will only be remunerated at the time of the operation of the EPR (European pressurized reactor), a third generation reactor.
The beginning of the production in Hinkley Point was delayed several times, due to the great industrial difficulties, and is not expected before 2029.
These delays have caused important additional costs and doubts about EDF’s ability to carry out the construction of EPR. However, the energetic French assured that he intended to build at least 1 reactor per year in the next 10 years.
Source: BFM TV
