EDF is expected to make its final invesntment decision on Hinkley Point C tomorrow at the company’s board meeting. The announcement last week that the the deal is included in tomorrow’s Board meeting’s agenda hints at strong support by the French governemnt, which has an 85% stake in the company and it follows comments reiterating the British Government’s comitment to the project by the new Chancellor of the Exchequer, Philip Hammond. The undertaking is also supported by Chinese investors who have commited to financing a third of the £18bn capital costs of the project.
Despite concerns in recent months that the project had financial uncertainty, there is an expectation among the British nuclear industry that the deal will go ahead. The approval yesterday of the sale of further EDF shares to strenghthen its balance sheet also points in the direction of a positive decision for Hinkley. Commenting on last week’s announcement, Tom Greatrex, NIA Chief Executive said:
“The NIA welcomes the news that a final investment decision will be made on Hinkley Point C.
“Hinkley Point C will be the first new nuclear power station to be built in a generation and is a crucial part of the UK’s energy strategy. New nuclear will play a vital role in creating clean, secure and homegrown electricity for homes and businesses in the UK. It will be the first in a series of new nuclear power stations which will come online in the next decade to replace much of the ageing capacity due to close.
“Not only will this decision provide clean and secure energy for decades to come, but it will help strengthen the UK’s nuclear supply chain and create thousands of jobs across the country.”