The construction of the two reactors will be the UK’s first in around twenty years. The location has been announced as Hinkley Point C in Somerset. The building of the power station will be carried out by a consortium, led by EDF and joined by a state controlled, Chinese company and previous EDF partner, China General Nuclear Power Group (CGN). The project is expected to be completed by 2023 and will operate for 35 years.
Areva are reported to have a ten percent stake in the consortium and CGN are believed to have between a 30 and 40 percent share. The new nuclear power station is being built to improve and replace the current nuclear facilities that are at least two decades old. The output of each of the two reactors will be around 1.6 gigawatts, which is expected to account for close to five percent of British energy output.
There are currently fifteen nuclear reactors in the UK that are controlled by EDF. The decision for the new one comes as other European countries scrap plans for new nuclear projects as is the case in Italy, with Germany having announced that the reliance of nuclear energy will be phased out. France has promised to cut its nuclear power to 50 percent of the national energy output.
“This project will deliver a boost to the economy and create job opportunities on both sides of the channel and will enable the United Kingdom, a country in which EDF is already the leading producer of electricity, to increase the share of carbon-free energy in its production mix,” said Henri Proglio, CEO of EDF.
The Fukushima meltdown in 2011 was a reminder of the risks associated with nuclear reactors and global investment in nuclear energy has declined as a result. The renewed investment in nuclear power comes as UK chancellor George Osborne signs a deal in China to allow Chinese companies to invest in nuclear construction projects in the UK.
The project could create 25,000 jobs during construction and 900 permanent jobs for the duration of its operation. “As we compete in the tough global race, this underlines the confidence there is in Britain and makes clear that we are very much open for business,” said Prime minister David Cameron.
The project will allegedly create 25,000 jobs during construction and 900 permanent jobs for the duration of its operation. ‘As we compete in the tough global race, this underlines the confidence there is in Britain and makes clear that we are very much open for business,’’ said Prime minister David Cameron.
