CGN and Électricité de France sign final investment agreement on British nuclear power project
    

On September 29 local time, CGN and Électricité de France (EDF) officially inked in London a package cooperation agreement on new nuclear power project in the UK and at the same time signed with the British government the agreements regarding the revenue of Hinckley Point C (HPC) nuclear power project and investment protection, etc., and have completed the equity delivery of the relevant companies. This means that necessary approvals and business processes have been completed for Hinckley Point C project and the project will be launched substantially. Meanwhile, according to the agreement between CGN and EDF, CGN will set about promoting the preparatory work of Bradwell B project and the Generic Design Assessment (GDA) of “HPR1000” technology to be used in the project.

According to the final investment agreement, the design and site work of Somerset-based HPC will start immediately and the construction of the nuclear island is expected to commence in mid-2019, with the first unit to be commissioned in 2025.

On the basis of the HPC project, the Chinese and French sides will cooperate to carry out the preliminary development of the Sizewell C project. The project also adopts EPR technology, and the EDF and the Chinese side hold 80% and 20% of the shares, respectively, in the early development project company.

Bradwell B project is led by CGN, with EDF participation. The two sides occupy 66.5% and 33.5% of the shares at the project development phase, and will use the HPR technology, Gen-III flagship reactor independently developed by China.

According to the agreement, CGN will formally submit to the British Government the “GDA” of HPR after CGN and EDF have signed package agreements including final investment agreement. This is the technical premise for HPR to be used in the UK. Every effort is made to complete the GDA in five years. On July 8 this year, CGN has completed the technical preparations for the GDA of HPR.

(Source: CGN)