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CGN signs investment agreements to launch new era of UK nuclear development

2016-09-29

London – China General Nuclear Group (CGN) is delighted to announce that it has today signed all final agreements for the Hinkley Point C Project (HPC), and a suite of agreements relating to Sizewell C (SZC) and Bradwell B (BRB,) with the EDF Group (EDF) and the UK government. This means that all the necessary government and commercial approvals have been completed for HPC and the project can now move forward. At the same time, the agreements signed today will also enable preparatory work to begin on BRB, allowing CGN to put its HPR1000 technology through the UK’s Generic Design Assessment (GDA) process.

  

CGN Chairman He Yu commented,
     “The signing of these agreements signifies CGN’s commitment to the UK as one of the world’s leading developers and operators of nuclear power. This flagship programme is a triple win for China, Britain, and France and is a culmination of years of cooperation between the three countries. CGN looks forward to providing UK consumers with safe, reliable and sustainable energy and maximising opportunities for UK suppliers and the UK workforce.”
The HPC project is located in Somerset and is a joint project between CGN and EDF in which CGN will have a 33.5 per cent interest. According to the final investment agreement, construction of HPC can now commence with completion expected in 2025.
    The proposed Bradwell B project will be located in Essex, subject to the HPR1000 design receiving GDA approval, and will consist of two HPR1000 reactors each with an output of 1.15GW. CGN will have a 66.5 per cent interest in Bradwell with the remainder held by EDF. HPR1000 is based on leading third generation nuclear technology and is China’s nuclear technology of choice for export. CGN’s Fangchenggang Unit 3 currently under construction in Southern China will be the reference plant for Bradwell B.
According to the agreement signed today between CGN and EDF, CGN will officially submit the HPR1000 for GDA approval. The GDA process is the world’s strictest nuclear technology review. CGN will file the GDA application to the UK government immediately, and aims to complete the approval process within five years.
    The UK is accelerating its transition towards a low-carbon economy with the goal of generating 25 per cent of its energy requirements from renewable, sustainable sources. HPC, SZC and BRB together form an important element in achieving that ambition. The construction of HPC alone will provide over 25,000 employment opportunities which will benefit France and Britain’s nuclear power industry supply chain, as well as provide skills training. After HPC is completed, it will provide 7% of the UK’s energy needs, delivering secure and affordable low-carbon electricity for 60 years.