UK signs Hinkley Point nuclear deal with France, China

The UK signed the £18 billion (around ₹1.5 lakh crore) Hinkley Point C nuclear deal with France and China. The reactor is Britain’s first in decades and is being built by French utility firm EDF with one-third financial backing from China. The deal had been delayed over concerns over the involvement of Chinese state-owned companies.

The no-frills event for the project in Hinkley, southwest England, to be built by France’s EDF and part-funded by China, contrasted with the approach taken by May’s predecessor David Cameron who courted Chinese investment during a lavish state visit laid on for President Xi Jinping last year.

It was only narrowly approved by the French firm’s board and then put on hold for further review by May in July, just hours before a large signing ceremony was due to take place to celebrate the project, stunning Paris and Beijing.

It was finally given the green light earlier this month, after the government included the proviso that it would be able to block the sale of EDF’s controlling stake. The government also said it would take a more cautious approach in future over
foreign investment in big infrastructure projects.