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Britain approves part-Chinese funded nuclear plant, sets new conditions

Thursday, September 15, 2016 - 15:30
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British Prime Minister Theresa May gave the go ahead for French firm EDF to build a new nuclear power plant in England with the help of Chinese funding on Thursday, ending weeks of uncertainty and diplomatic tension over the deal.

[LONDON] British Prime Minister Theresa May gave the go ahead for French firm EDF to build a new nuclear power plant in England with the help of Chinese funding on Thursday, ending weeks of uncertainty and diplomatic tension over the deal.

Mrs May's government approved the US$24 billion project, but said in a statement that it had imposed new conditions which would enable it to intervene in the sale of EDF's controlling stake both prior to and once the plant is operational.

After Hinkley, the British government will also be able to take a special share in all future nuclear projects which will ensure that significant stakes cannot be sold without the government's knowledge or consent, the statement said.

REUTERS