Saturday, July 30, 2016

Hinkley Point: May skeptical about Chinese investment – Le Figaro

Theresa May did not share the enthusiasm of his predecessor David Cameron for China’s financial involvement in the construction project by EDF of two EPR nuclear reactors at Hinkley Point, told the BBC on Saturday a former colleague.

“When we were in government (Cameron),” reported the former minister Vince Cable Companies, “Theresa May made it clear she did not like the approach rather enthusiastic than we had vis-à-vis Chinese investment. “

“In my memory, it raised objections at the time,” said he said.

The EDF Board gave Thursday night the green light to the controversial project and signing the contract with the Government of Theresa May was scheduled for Friday but the new British Minister for Enterprise and Energy, Greg Clark, announced the surprise that his government would carefully review all aspects of the project and make its decision in early fall.

the UK and EDF have reached an agreement on the proposed Hinkley Point in England in 2013 while Chinese participation was incorporated two years later to the during a state visit to London by Chinese President Xi Jinping to celebrate the start of a new “golden period” between the two powers.

At the end of October 2015, EDF, its Chinese partner CGN and the British government concluded a series of agreements under which the French public electrician will own 66.5% of the project and CGN (China General Nuclear) 33.5%. The cost of building reactors is estimated by EDF to 18 billion pounds (21.3 billion euros).

Strategic Area

Theresa May was for six years Minister of the Interior of the government of David Cameron before taking his succession to the British executive head after the vote of 23 June for a release in the UK of the European Union.

In the weeks that followed the “Brexit,” the new head of the British government stressed that his country was open to investment. However, she warned that his government would be able to intervene to defend a strategic sector judged against foreign capital if necessary.

Last year, Nick Timothy, a close collaborator Theresa May became the one of his chiefs of staff, was concerned that the CGN group, owned by the Chinese state, would have access to computer systems giving it the ability to block the British energy production.

two reactors at Hinkley Point in southwest England, would provide about 7% of the electricity in the United Kingdom and would fill the void left by the closure of coal plants in the country, expected by 2025 .

the construction costs are borne by EDF and CGN but the British government has committed to pay for 35 years a minimum price for electricity from the plant.

Opponents of the project, including British officials and experts believe that London surpayera its electricity at this price, which is currently twice as high as the market price.

EDF, who said no having been notified of the decision of the British Government to review the project, said he was confident in the decision that will make London in the fall. CGN said respect the government’s decision to take time to become familiar with the file.

The expected verdict of the British government could coincide in September, with a decision about another major infrastructure project, the extension of the London airports of Heathrow or Gatwick, already postponed several times.

Service Theresa May have not reacted to Vince Cable. A government spokesman said Friday he was “just normal” that the new cabinet is looking at all aspects of the project

EDF launches the construction of two EPR UK
Jean-Bernard Lévy: “We know the risks we master the”
Hinkley Point: London maintains the suspense


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