United Kingdom: the Chinese pushed towards the exit of the EPR project at Sizewell

Demonstrators protest against the Sizewell C nuclear power plant project, September 1, 2022. REUTERS - POOL

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The Chinese CGN is withdrawing from the Sizewell C new generation nuclear reactor project in favor of the French EDF, its main contractor.

The presence of the Chinese group in the context of tensions between Washington and Beijing had led several British parliamentarians to express their concern about this Chinese participation in Great Britain.

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After telecoms, Chinese industrialists are pushed towards exiting in the energy field this time.

China General Nuclear (CGN) will have to sell its 20% stake in the

.

The British State takes over 50% of the capital.

Its other partner is EDF and will ultimately retain only a minority stake.

The two companies will have to work together to raise the necessary financing. 

Cheaper

The construction of this new EPR could, according to EDF, cost 20% less than the construction of Hinkley Point, estimated between 28 and 30 billion euros after several years of delays and budget overruns. 

Six million households

The British Secretary of State for Energy believes that this new project should enable the United Kingdom to limit supply risks.

Not to mention the 10,000 highly qualified jobs that should be created in order to supply electricity to six million households over the next fifty years. 

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