The British government on Thursday approved the construction of the country’s first new nuclear power plant in more than two decades, a French and Chinese-backed project that had prompted high-level fears about national security.
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“This marks a major milestone in Franco-British industrial and energy cooperation”, French Economy minister Michel Sapin said in a statement.
“Apparently, London’s so-called “national security” concerns over Chinese investment into the Hinkley Point C nuclear power plant could well endanger the bright new prospects the two nations’ leadership have agreed to foster during Chinese President Xi Jinping’ s visit to Britain last October”, the Chinese state news agency Xinhua thundered.
Nuclear power supplies about 20 percent of Britain’s energy, but no new reactors have been built since the 1990s.
British trade unions and manufacturers also welcomed the deal, which they said could create up to 25,000 jobs.
“The new legal framework for British critical infrastructure will provide a sound basis for the projects at Hinkley Point C, Sizewell C and Bradwell B”. Second, the United Kingdom government will take a “special stake” in any future power stations – such as the proposed Chinese plants at Bradwell and Sizewell -so that “significant stakes can not be sold without the Government’s knowledge or consent”.
“The Office for Nuclear Regulation (ONR) will be directed to require notice from developers or operators of nuclear sites of any change of ownership or part-ownership”.
Jean-Bernard Levy, EDF Group chief executive said the decision marked the “relaunch” of nuclear in Europe.
France’s influential nuclear industry has been struggling in recent years as the industry has leaned toward renewables and away from costly nuclear plants, notably in the wake of the 2011 Fukushima accident.
May has now given the project the go-ahead, but with some significant caveats.
But Greenpeace executive director John Sauven said the plant was a white elephant that was approved because it “became too big to fail”.
They said they had imposed “significant new safeguards” for future foreign investment in critical infrastructure. “There are still huge outstanding financial, legal and technical obstacles that can’t be brushed under the carpet”.
“We are satisfied it is a good deal”.
The spokesman also dismissed suggestions that the delay in giving the green light to Hinkley was down to Government dithering rather than any substantive change in the terms of the deal. “As we said some time ago, it was right that we took our time to look at all the component parts of this deal”.
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The French energy giant EDF had already made its final investment decision on the scheme only for Prime Minister Theresea May to surprise the industry in July by saying she wanted to review the details.
