All systems go for Hinkley Point
News just in! The UK Prime Minister, Theresa May has approved plans for the proposed £18bn nuclear power station at Hinkley Point, Somerset, the first in the UK since 1995.
The new plant will be financed by the French company, EDF as well as the Chinese but in exchange, China wants to use its own design for new UK nuclear stations.
A statement released by the UK government confirmed the approval of the power station saying; “Following a comprehensive review of the Hinkley Point C project, and a revised agreement with EDF, the government has decided to proceed with the first new nuclear power station for a generation.”
Theresa May concluded that Hinkley plays a crucial part in keeping Britain’s lights on and reducing carbon emissions as well as creating relations with both France and China at a very uncertain time for the UK following the public vote to leave the European Union.
Throughout the 10-year construction, Hinkley Point will generate over 25,000 new jobs, provide great opportunities for local, national and international businesses and bring great lasting benefits to communities throughout South West England. With ministers imposing a new legal framework as part of the approved deal, the UK will take a “special share in all future nuclear new build projects” which will allow the government to ensure significant stakes cannot be sold without its consent.
According to EDF Energy, the electricity generated from Hinkley Point will provide 7% of the UK’s needs whilst avoiding 9 million tonnes of carbon dioxide emissions a year, which is 600 million tonnes over its 60-year lifespan.