China crackdown threatens Boris Johnson’s £23 billion nuclear plan: ‘Unpalatable!’
According to reports, the Government’s crackdown on China is threatening BORIS JOHNSON’s £23 billion nuclear power plant, which might lead to a “politically unpleasant” situation.
In November, the Prime Minister unveiled his “ten-point plan” for a “green industrial revolution” that he claims will generate and sustain up to 250,000 employment in the United Kingdom. The third item on the agenda was “clean” nuclear energy research and “development of the next generation of compact and sophisticated reactors.” One method the government plans to accomplish this is through the development of Hinkley Point C in Somerset, a £23 billion nuclear power facility planned to open in June 2026.
The project’s funding is still being worked out, but the building costs will be covered by the French state-owned EDF and China’s state-owned China General Nuclear Power Group (CGN).
The Government, according to the Financial Times, is considering excluding CGN from future UK projects, including the £20 billion Sizewell C nuclear facility on the Suffolk coast.
CGN hoped to use these projects as a springboard for constructing a Chinese-designed reactor at Essex’s Bradwell-on-Sea.
Whitehall, on the other hand, is believed to have expressed concerns that a Chinese nuclear power facility within 30 miles of London would be “politically unacceptable.”
“A minority Chinese investment in a nuclear project could certainly be tolerated,” a source added.
“However, the path leading to a Chinese-owned project at Bradwell is no longer viable.”
“The British should earnestly create an open, fair, and non-discriminatory business environment for Chinese companies,” said Zhao Lijian, a spokesperson for China’s foreign ministry.
“Practical cooperation in the spirit of mutual benefit and a win-win outcome is in both parties’ best interests.”
The crackdown could jeopardize Hinkley Point C’s completion plans.
CGN’s investment in Hinkley was aimed to earn a profit and assist safeguard its plant at Bradwell, according to Steve Thomas, retired professor of energy policy at the University of Greenwich.
He warned that if one of those were to be jeopardized, the company would be forced to leave the UK.
Prof Thomas pointed out that, with Hinkley’s budget increasing from £14 billion to £23 billion, it was no longer apparent whether the consortium would break even.
“I would have believed it would have placed it in the red,” he remarked.
“They might be overjoyed for an.” Brinkwire Summary News”.