Hinkley Point Go-Ahead Delayed Amid Funding Doubts

  • Date: 26/01/16
  • Emily Gosden, The Daily Telegraph

EDF has delayed its final investment decision on the Hinkley Point new nuclear plant yet again, amid claims it is still struggling to finalise funding for the £18bn project.

The French energy giant had been scheduled to take the long-awaited decision at a board meeting on January 27, but is now thought unlikely to do so until its annual results on February 16 at the earliest.

EDF had said in October it would take the decision within “a few weeks”, after unveiling a deal for Chinese nuclear group CGN to take a 33.5pc stake in the project.

But it is reportedly still struggling to find the cash for its own 66.5pc stake, as its finances come under pressure from falling wholesale power prices and its acquisition of Areva’s reactor-making business.

It is now “putting pressure on the [French] state, which owns 84.5pc of EDF, to come up with fresh funds” and looking to find new investors, according to French newspaper Les Echos.

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