According to Bloomberg, HSBC will help secure the debt to fund construction of the new plant. EDF, Areva SA China General Nuclear Corp. and China National Nuclear Corp. formed a consortium to build the plant with help from government incentives. The European Commission started an investigation into those subsidies, which could push the price tag of the plant above the 16 billion pound cost. Consumers could end up paying 17 billion pounds in subsidies to EDF, the majority owner of the plant.
The new unit is expected to be operational by 2023.
Subscribe to Nuclear Power International magazine