New Projects, Nuclear

China can invest in UK new nuclear builds

The government of the United Kingdom will allow Chinese companies to invest in nuclear power plants in Britain, according to Bloomberg.

Investments in the beginning are likely to be minority stakes, but may increase to majority interests in the future, the article said. The UK is trying to push 110 billion pounds ($177 billion) of spending on new nuclear plants and grid infrastructure through 2020 to help replace 15 of 16 reactors due to close by 2023.

The BBC reportedly said that France’s EDF was negotiating with China General Nuclear Power Co., China National Nuclear Corp. and State Nuclear Power Technology Corp. to take an up to 30 percent stake in the 3.2 GW Hinkley Point C nuclear project in England.

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