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UK looking at deal to remove China from nuclear project- report

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By Reuters
UK looking at deal to remove China from nuclear project- report
UK looking at deal to remove China from nuclear project- report   -   Copyright  Thomson Reuters 2021   -  

<div> <p><span class="caps">LONDON</span> – Britain is closing in on a deal which would remove China’s state-owned nuclear energy company China General Nuclear Power Group (<span class="caps">CGN</span>) from involvement in building a new power plant, the Guardian reported on Saturday.</p> <p>The newspaper said Britain was looking to take a stake in the 20 billion pound ($27.4 billion) project to build the Sizewell C nuclear power station in Suffolk, eastern England, alongside France’s <span class="caps">EDF</span>. </p> <p>That would result in <span class="caps">CGN</span>, which currently has a 20% stake in Sizewell, being removed from the project, it said, adding the plans could be announced as soon as next month. <span class="caps">CGN</span> and <span class="caps">EDF</span> declined to comment, the Guardian said.</p> <p>“Nuclear power has a key role to play as we work to reduce our reliance on fossil fuels and exposure to volatile global gas prices,” a British government spokesperson said in response to the newspaper report.</p> <p>“<span class="caps">CGN</span> is currently a shareholder in Sizewell C up until the point of the government’s Final Investment Decision. Negotiations are ongoing and no final decision has been taken.”</p> <p>In July, the Financial Times reported that Britain was looking at ways to remove <span class="caps">CGN</span> from all new future power projects. </p> <p><span class="caps">EDF</span> called on the British government in June to deliver the legislation necessary to underpin the project, saying it was now essential..</p> <p>On Friday, the London-based Times newspaper said Britain was in talks with U.S. nuclear reactor company Westinghouse about building a new atomic power plant on Anglesey in Wales, as the government seeks to reduce a reliance on fossil fuels and exposure to volatile gas prices.</p> <p>($1 = 0.7311 pounds)</p> <p/> </div>