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CHINA
- "looks dead", given revived security concerns and deteriorating diplomatic relations following the Government's decision to ban Huawei from the UK’s mobile telecommunications networks.[1] The question of operation is considered in the next section, on linked investments.
Sizewell C (financing)
- As part of the Bradwell agreement, CGN also agreed to provide 20% of the capital for EDF's planned reactor at Sizewell in Suffolk, which is intended to be a 'clone' of Hinkley Point C.[2] It was reported in the media in September 2020 that the Government is looking at options to replace CGN as an investor in Sizewell C. One of these options would involve the Government taking a stake in the plant itself, in an attempt to accelerate the approvals process for the plant.[3] The (then) Energy Minister, the Rt Hon. Kwasi Kwarteng MP, later confirmed that the Government is considering taking equity stakes in future nuclear plants, including Sizewell C.[4]
Possible investment at Moorside (unconfirmed)
- Japanese company Toshiba had planned to build three reactors at the Moorside site near Sellafield in Cumbria through its NuGen subsidiary, but—due to its own concerns about the project's financial viability—began winding up its UK nuclear business in January 2019 after failing to find a buyer to take on the project.[5]
- In 2017, CGN had attempted to buy NuGen and its Moorside project from Toshiba, but lost out to a South Korean energy firm (the South Korean deal subsequently fell through).[6] Following the November 2018 announcement that Toshiba was going to wind up NuGen, it was reported that CGN was still interested in the project, but that there were reservations within the Government about allowing CGN to gain a further foothold in the UK Civil Nuclear sector.[7] The potential CGN investment at Moorside was scrutinised by the Government in 2017 for national security risks.
- In July 2020, it was announced that EDF is part of a 15 company-strong consortium which has entered a bid to build a nuclear reactor at Moorside "similar to Hinkley Point C". There has been no indication as to whether CGN will have any investment in this new Reactor.[8]
Possible investment at Wylfa (unconfirmed)
- It has been reported by the media that CGN is interested in buying the Horizon nuclear project at Wylfa on Anglesey. The project's owners, Hitachi, withdrew from the scheme in September 2020, having failed to reach agreement with the Government about funding
- ↑ 'UK government could take stake in Sizewell nuclear power station', BBC News, 16 September 2020.
- ↑ 'China's long game to dominate nuclear power relies on the UK', The Guardian, 26 July 2018.
- ↑ 'UK government could take stake in Sizewell nuclear power station', BBC News, 16 September 2020.
- ↑ 'Government considers taking equity stakes in nuclear plants', The Times, 6 October 2020.
- ↑ 'Toshiba's UK withdrawal puts Cumbria nuclear plant in doubt', BBC News, 8 November 2018.
- ↑ 'Korean energy firm rescues UK's Moorside nuclear power project', The Guardian, 6 December 2017.
- ↑ 'UK close to ditching plan for Cumbria nuclear plant', Financial Times, 9 November 2018.
- ↑ 'Clean energy hub proposes nuclear development for Moorside', Nuclear Engineering International, July 2020.
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