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New-build projects are making progress, but governments are still struggling with finding the right financing package for large reactors The delayed Flamanville-3 is one of three EPR units under construction in Europe. The others are at Olkiluoto in Finland and Hinkley Point in the UK. Photo courtesy EDF. Western Europe

The UK is facing a major challenge to replace its aging fleet of Generation I nuclear power plants, many of which are scheduled to shut down in 2023.

The project by French state utility EDF to build two Generation III EPR units at Hinkley Point C in Somerset is on track for connection to the grid by 2025. Once in commercial operation the two units will provide up to 7% of the total electricity demand. Two similar units are planned for the Sizewell site in Suffolk.

However, press reports have suggested EDF is in “a race against time” to secure a funding deal for Sizewell C as delays risk making the project prohibitively expensive.

According to The Times newspaper EDF has hired Rothschild as financial adviser for the project and says it wants a “definitive way forward” from the government this year so it can start construction in 2022.

Date: Friday, 17 January 2020
Original article: nucnet.org/news/what-lies-in-store-in-2020-1-4-2020

The UK government on 15 September approved Electricite de France’s (EDF’s) GBP18bn ($24bn) project to build two Areva-designed European Pressurised Water Reactors (EPRs) at the Hinkley Point C site. However, the government has set new conditions on EDF and its Chinese partner, China General Nuclear Power Corporation (CGN), which is set to invest in Hinkley through its new company, General Nuclear International. The UK confirmed previously that EDF would initially have a 66.5% stake in the project, with CGN taking 33.5%.

Date: Tuesday, 20 September 2016
Original article: neimagazine.com/news/newshinkley-approved-china-welcomes-decision-5010145