China pledges $3bn to UK’s Hinkley Point nuclear plant

21/09/2015

Hinkley PointChina has pledged to invest $ 3.1bn in the construction of the UK’s Hinkley Point nuclear power plant, Chancellor of the Exchequer George Osborne announced today during an official visit to Beijing. 
Construction of the plant will continue be led by the French company EDF, who welcomed the news but did not comment on how the new funding arrangements might alter the terms and conditions of the existing contracts. 
Earlier this month, EDF admitted that the project been delayed following an earlier decision to review how it was to be funder. The £24.5bn power station would be Britain’s first new nuclear power plant for 20 years and is expected to provide power for about 60 years and to meet about 7% of the country’s electricity requirements. 
The total cost of the Hinkley Point project has been put at over $38bn . 

Source: bbc