Edf Energy Nuclear Generation Company Agreement

The United Kingdom will benefit from this long-standing cooperation and CGN`s global and proven ability to build and operate nuclear power plants. Chinese investment will boost British jobs and industry and allow British companies to cooperate with experienced Chinese and French companies in a new global nuclear market. EDF develops the UK Hinkley Point C (Credit: EDF) Nuclear Power Plant On 18 October 2010, the UK government announced that Hinkley Point – already the Hinkley Point A site and the Hinkley Point B plants still in operation – was one of eight sites it considered suitable for future nuclear power plants. [3] [24] NNB Generation Company, a subsidiary of EDF, submitted an application for development approval to the Infrastructure Planning Commission on 31 October 2011. [25] In October 2013, the government announced that it had approved subsidized feed-in prices for Hinkley Point C electricity generation, with the facility expected to be completed in 2023 and remain in service for 60 years. [26] Assystem, the world`s second largest nuclear technology company, has signed a contract to provide technical know-how for the construction of the Hinkley Point C nuclear power plant. Headquartered in Blackburn, the company will create 100 new UK jobs in advanced engineering, site engineering, commissioning, quality assurance and control, with development opportunities for new graduates and apprentices. In September 2014, it was announced that “discussions with the British authorities have resulted in an agreement. On this basis, Vice-President Almunia will propose to the College of Commissioners to make a positive decision in this case. In principle, a decision should be taken within this mandate,” and a final decision is expected in October 2014. [19] In 2020, the Financial Markets Authority (AMF) fined EDF EUR 5 million for misleading investors about the costs of Hinkley Point C in 2014.

In a press release issued in October 2014, EDF said that the UK government`s agreement had remained unchanged from 2013, when there were major changes to the financing plan that artificially increased EDF`s share price. AMF also fined EDF`s CEO 50,000 euros at the time. [115] The industrial technology company will create 350 new jobs in the UK, including engineering and manufacturing facilities and facilities at its UK sites in Warrington, Humberside, Bristol and Somerset. From now on, the work will be delivered via the Bilfinger Technologies and Engineering – Maintenance Europe segment with UK sites in Bristol and Warrington, while part of the production of special pipes will take place in a modernised plant in the north-east. In 2011, Elizabeth Gass sold approximately 230 hectares of her fairfield property in Hinkley Point for approximately $50 million. There are conflicting reports as to whether the country was in favour of nuclear power development or a wind farm. [27] [28] The new Somerset nuclear power plant will help Britain reduce its Emissions to Net Zero and produce enough low-carbon electricity to cover 7% of the country`s needs. In October 2013, the government announced that it had approved the agreement of a “strike price” for electricity from the facility, a key condition for the construction of the facility. [26] [82] In February 2013, Centrica withdrew from the new nuclear construction program on the grounds of higher-than-expected construction costs caused by larger generators at Hinkley Point C and a longer construction time caused by the post-Fukushima changes. [29] EDF is leading the UK`s nuclear renaissance with the construction of a new nuclear power plant at Hinkley Point C and is leading the development of breeding projects at Sizewell C in Suffolk.

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