EDF Board outlines the way forward for Hinkley

EDF’s Board has approved measures to increase its available capital in order to finance its investment proposals including the Hinkley Point C project. This includes a rights issue and capital disposals including thermal generating plant outside of France (potentially including UK thermal plant). The company hopes that this will raise a further €4billion in total.

At the same time, they have acceded to union demands to be consulted on the final investment decision for Hinkley, a process which will take at least 60 days. This has caused French Economy Minister Emmanuel Macron to confirm that the decision will not be taken before September. This is somewhat embarrassing for the Minister given that he had told the BBC in an interview only a week ago that he expected the decision imminently.