Date
21 August 2018

China’s CGN to build nuclear reactors in Britain, FT says

Chancellor of the Exchequer George Osborne, who is visiting China, will sign a deal allowing Chinese General Nuclear Power Group to build nuclear power stations in Britain and have its reactor design approved by British regulators, the Financial Times reported Sunday. Under the deal, state-owned CGN will be allowed as a co-investor in EDF Energy’s planned new nuclear plant at Hinkley Point in Somerset. The project will cost about 14 billion pounds (US$22.37 billion). The memorandum of understanding will also see the British government backing CGN’s plans to build a nuclear reactor in the country and play a “supporting role” in operating it, the report said.

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