LONDON (CNNMoney) — China will help build and operate Britain’s next generation of nuclear power stations — and people are freaking out about it.
The UK government has struck a deal with France’s EDF and China General Nuclear Power Corporation (CGN) to build a new nuclear plant at Hinkley Point in southwest England. CGN will own 33.5% of the $27 billion project.
Once complete in 2025, the plant will deliver 7% of UK power.
Further down the road, state-owned CGN will partner with EDF on two more plants in England. The French company will lead one, while CGN will get to build another some 60 miles northeast of London, using its own reactor technology. It will have a 66.5% stake in that venture.
The deals are the centerpiece of Chinese President Xi Jinping’s visits to the UK this week, which British Prime Minister David Cameron has hailed as marking a “golden era” in the relationship between the two countries.
The British government says the construction and operation of the Hinkley Point plant will create thousands of jobs and boost energy security. For the full article click here
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