These appear to include the ability for the government to stop French utility firm EDF selling its share of the project for a quick buck both during and after construction, with The Office for Nuclear Regulation no less needing to be notified of any potential full or part change in ownership.
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The government says that 26,000 jobs and apprenticeships will be created as part of the Hinkley Point C project.
At 1030 BST, Redhall shares were up 23% to 10.70p.
The latest move came almost two months after the new government surprisingly halted the project and called for a review of the nuclear program.
New conditions on the controversial agreement with the state-owned firms building the plant – France’s EDF and China’s China General Nuclear Power (CGN) – mean the United Kingdom government will be able to prevent the sale of EDF’s controlling stake prior to the completion of construction.
Following a comprehensive review of the Hinkley Point C project, London said Thursday it would proceed with the controversial nuclear power plant – Britain’s first in a generation.
The Government’s agreement with EDF means it can prevent the sale of the French firm’s controlling stake before completion of construction.
Britain also signaled a more cautious approach to foreign investment in critical infrastructure projects.
Britain’s Business Secretary Greg Clark said in a statement on Thursday the government had given the go-ahead after introducing a series of measures “to enhance security and to ensure Hinkley can not change hands without the government’s agreement”.
Featuring two reactors, the project is expected to deliver safe, reliable, and low carbon nuclear power at a competitive cost.
An official statement said the British government had made a decision to approve the country’s first nuclear power plant in two decades following a new agreement with EDF, but added that new measures would be taken to enhance security.
But the statement said the price had not changed for the energy which is needed to fill a supply gap as the country’s coal-fired plants are set to close by 2025.
EDF’s de Rivaz also told the news conference that UK announcement changes nothing with regard to EDF’s partnership with China’s CGN on Bradwell UK project.
“This includes clearing our tried and tested reactor technology for deployment in the United Kingdom, consulting across North Wales on our plans and the huge economic opportunities they will deliver, and working with Government on a deal that delivers at a fair and acceptable price for all”.
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“They are not concerned by it”, the source said, of the future rules. “It is worth pointing out that there will be no addition to anyone’s bills until Hinkley is constructed and up and running”.
