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30.09.2016 13:54
© EDF
The final agreements enabling construction of two EPR units at Hinkley Point C to proceed were signed today in London by the UK government, EDF and China General Nuclear.
The documents were signed by UK Secretary of State for Business, Energy and Industrial Strategy Greg Clark, EDF chairman and CEO Jean-Bernard Levy and China General Nuclear (CGN) chairman He Yu. Attending the ceremony were French foreign minister Jean-Marc Ayrault and National Energy Administration of China administrator Nur Bektri, World Nuclear News reported.
The agreements signed included the Contract for Difference (CfD) and the Secretary of State Investor Agreement.
The CfD - the ratepayer-backed guaranteed price for electricity generated by Hinkley Point C - was originally agreed in October 2013 and guarantees the plant will get GBP 92.50 per MWh for for its first 35 years of operation.
Prime Minister Theresa May said a review of the deal would be carried out before the government committed its support. Under a deal agreed with EDF Energy last October, CGN will take a 33.5% stake in the project. In addition, the two companies plan to develop projects to build new plants at Sizewell in Suffolk and Bradwell in Essex, the latter using Chinese reactor technology.
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