Arab Today, arab today uk nuclear plant deal hinges on ambitions of london beijing and edf
Last Updated : GMT 01:33:02
Arab Today, arab today
Arab Today, arab today

UK nuclear plant deal hinges on ambitions of London, Beijing and EDF

Arab Today, arab today

Arab Today, arab today UK nuclear plant deal hinges on ambitions of London, Beijing and EDF

French electricity giant EDF
Paris - AFP

Plans to build two next-generation nuclear reactors at Hinkley Point in southwest England are stalled at the crossroads of ambitions by Britain, China and French electricity giant EDF.

A consortium led by EDF (Electricite de France) is expected to make a final decision this year on whether to invest in the gigantic project, estimated to cost £25 billion ($38.6 billion, 34 billion euros), which would be the first new nuclear power station in Britain in decades.

The decision could hinge on China's role in the consortium through its state-run firms China General Nuclear Corporation (CGN) and China National Nuclear Corporation.

London is looking to the visit this week of Chinese President Xi Jinping as an opportunity to finalise the deal for Hinkley Point, two years after it first gave the green light for the project.

Hinkley Point would feature the European Pressurised Reactor (EPR), a third-generation reactor design considered the most advanced and safest in the world.

Britain last month pledged £2 billion for the nuclear plant, which it sees as necessary to meet the country's energy needs as older coal and nuclear plants are retired, and also as oil reserves decline in the North Sea.

The Chinese companies are expected to largely finance and get a stake of around 40 percent in the nuclear plant that authorities hope will generate seven percent of Britain's electricity.

"Britain is also hoping to revive its faded industrial sector and create high-paying jobs," said Christophe Bonnery, head of an association of energy economists.

Aiming for 25,000 new jobs, the British government hopes that the agreement on Hinkley Point will be the first of many, he added.

- China's view -

In all, around 10 reactors are envisioned to be built in Britain, all by foreign companies.

"The idea is to get the Chinese with this first reactor in the frame of mind to co-finance the others that follow," said Arnaud Leroi, of consultants Bain & Company.

China's booming nuclear industry wants to take advantage of the favourable attitude in Britain toward nuclear energy to establish credibility for its technology and assure it access to the international market, analysts say.

"Beijing is looking for alliances and investments in Europe to acquire an expertise" to help develop its key national industries, said analyst Christine Lambert-Goue, Asia director at Invest Securities.

"If the cost of the EPR (reactor) drops, the Chinese will have a foothold in a technology of the future," added Francois Pouzeratte of Eurogroup Consulting.

Like London, EDF is counting on the Chinese to agree to the investment as the French company does not have the means to back a huge project like Hinkley Point on its own.

"My hope is that our Chinese partners can take the right decision and will seize the day. The ball is in their court,"  Vincent de Rivaz, who heads up the UK division of EDF, told the Financial Times this month.

- 'Future of nuclear' -

Hinkley Point would not be the first time EDF has worked with the Chinese. It already has a long-standing partnership with CGN in building two EPR reactors at Taishan, and the French group hopes to open wider the doors to the huge Chinese market.

"Nuclear energy is an option that cannot be overlooked. The country (China) has 50 reactors of which 25 are under construction, representing the majority of nuclear plants being built in the world," said Herve Machenaud, an EDF representative in China.

"The future of the sector is taking place for a big part over there," he said.

EDF also needs its ties with Chinese firms to maintain its know-how, an advantage which surpasses the risk involved in the transfer of technologies, experts say.

"The Chinese are no longer copiers. The have become more and more the motor" of industrial development, said Cyril Crocq-Gaillard, consultant at Sia Partners.

But clouds hang over the prospects for Hinkley Point.

EDF has had to push back four times the launch of its EPR reactor project at Flamanville in northwest France, now set for late 2018, causing increased cost overruns.

Another EPR project in Finland involving Areva, the French atomic energy giant together with German engineering group Siemens, has also been plagued with a string of technical and safety setbacks. It plans to launch a testing phase next year.

On the legal front, the Austrian government has filed a complaint with the European Court of Justice against state subsidies for the planned nuclear plant in Britain, on the grounds they distort the market.

Seen as a major boost to the nuclear industry four years after the disaster at Japan's Fukushima plant, some environmentalists view Hinkley Point as an unnecessary support for nuclear energy just as renewable energy technologies begin to take hold.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uk nuclear plant deal hinges on ambitions of london beijing and edf Arab Today, arab today uk nuclear plant deal hinges on ambitions of london beijing and edf

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 11:43 2017 Wednesday ,22 February

South Africa budget throws light on fractured ANC

GMT 11:35 2017 Wednesday ,22 February

British economy grows 0.7% in final quarter of 2016

GMT 06:04 2017 Wednesday ,22 February

Hammond closes in on budget goal

GMT 05:34 2017 Wednesday ,22 February

Euro zone economy outlook shines

GMT 04:10 2017 Wednesday ,22 February

US stocks finish at another all-time high
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday