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Government appears to favour ‘Boot’ model alread used by Russia Koeberg, near Cape Town, is the only commercial nuclear power station in South Africa. The Nuclear Industry Association of South Africa (Niasa) has proposed six possible funding options for new nuclear, but government officials have suggested the most likely is a “build, own, operate and transfer” (Boot) model similar to that used by Russia for project including Akkuyu in Turkey.

Niasa told Engineering News that the very high proportion of the cost of energy that comes from the repayment of capital means interest rates will be fundamental to the viability of any new nuclear project in South Africa.

The association said real interest rates – which are adjusted for inflation – on state debt could be in the range of 2% to 3%, while real interest rates on high risk equity finance could vary from 10% to 15%. It said this explains why some new nuclear projects such as state-supported projects in China could be very competitive while others, such as the private equity funded Hinkley Point C in the UK, needed some kind of state guarantee such as long-term power purchase agreements.

Niasa identified six financing options that could be used to fund a new nuclear programme. The first was state funding for the entire project or state provided sovereign loan guarantees using reserves and cash flows from state-owned companies, as was the case with the United Arab Emirates’ Barakah project.

Date: Wednesday, 20 May 2020
Original article: nucnet.org/news/industry-association-proposes-financing-options-for-new-build-5-2-2020

The UK does not yet have new rules in place which will be needed to supply fuel for nuclear power plants after leaving the European Union (EU), according to Angela Hepworth, Electricite de France’s (EDF’s) EDF’s corporate policy and regulation director. There is very little time to replicate vital aspects of the European Atomic Energy Community treaty before Brexit in March 2019, she said on 19 February. “Having a hiatus isn’t an option. Having a time when the UK has no access to fuel isn’t an option.”

Date: Thursday, 22 February 2018
Original article: neimagazine.com/news/newsbrexit-plans-cause-fuel-concerns-6063340

A report by the UK House of Commons public accounts committee published on 22 November said the UK government should rethink the economic case for new nuclear power stations after making “grave strategic errors” in the Hinkley Point C project.

Date: Monday, 27 November 2017
Original article: neimagazine.com/news/newsuk-accounts-committee-criticises-hinkley-point-5986756

China is to submit its domestically designed Hualong One nuclear reactor to UK regulators for a generic design assessment (GDA). China General Nuclear Power Corp (CGN) will send the design of the reactor to the regulators and hopes it will be approved within five years, it said in a statement on 29 September. CGN plans to build two Hualong One reactors, each with output capacity of 1,150MWe, at the proposed Bradwell B NPP in southern England, where CGN will hold a 66.5 percent interest. The reactors are part of a broader nuclear development deal first announced in October between CGN, France’s Electricite de France and the UK government, which also includes the Hinkley Point C and Sizewell C NPPs. CGN has a 33.5% stake in Hinkley.

Date: Tuesday, 04 October 2016
Original article: neimagazine.com/news/newschina-to-submit-hualong-one-for-uk-approval-5023434

The GBP18bn ($24bn) agreement for construction of the Hinkley Point C NPP was signed behind closed doors in London on 29 September in a low-key ceremony attended by UK Business Secretary Greg Clark, French Foreign Minister Jean-Marc Ayrault and China's National Energy Administration Director Nur Bekri. The final agreements enabling construction of two EPR units at Hinkley to proceed were signed by the UK government, major investor EDF and China General Nuclear (CGN), which has a 33.5% share in the project.

Date: Tuesday, 04 October 2016
Original article: neimagazine.com/news/newshinkley-agreement-signed-at-last-5023406

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

Five labour union representatives in the Electricite de France (EDF) board of directors on 31 August filed a legal complaint in an attempt to annul approval of the Hinkley Point C NPP project in southwest England. The EDF board announced its decision on 28 July but the new UK government then refused to approve the project, saying it planned to review it again in “early autumn”. In a joint statement, three unions – CGT, CFE-CGC and FO – alleged that the French government and EDF CEO Jean-Bernard Lévy knew about the UK’s intentions to take additional time to review the project. "Some board members found out that they had not received the same level of information as the CEO and government representatives" the unions said. Under these conditions, there was “no justification to rush” the decision during the board meeting and “intentionally hide this important information”.

Date: Friday, 02 September 2016
Original article: neimagazine.com/news/newsmore-hurdles-for-hinkley-4996027

The UK government said on 3 August that it will not have to pay compensation to Electricite de France (EDF) if prime minister Theresa May decides to abandon the Hinkley Point C NPP project because there is no signed contract.

Date: Tuesday, 09 August 2016
Original article: neimagazine.com/news/newsmore-repercussions-from-hinkley-delay-4974336

The UK's vote to leave the European Union (EU) will not affect Electricite de France's strategy, which includes the planned construction of the GBP18bn ($25bn) Hinkley Point NPP. "We think that this vote has no impact on our strategy," EDF CEO Jean-Bernard Levy told reporters in Paris. "The strategy for our British subsidiary is unchanged."

Date: Monday, 27 June 2016
Original article: neimagazine.com/news/newsthe-uncertainties-of-brexit-4933924


French nuclear operator Electricite de France (EDF) has agreed to buy a majority stake in nuclear group Areva's reactor business subsidiary, Areva NP. EDF said it had signed a memorandum of understanding (MOU) with Areva specifying that it will take "majority control" of Areva NP of "at least 51%" with a maximum stake of 25% held by Areva and the potential participation of minority partners.

Date: Friday, 31 July 2015
Original article: neimagazine.com/news/newsedf-to-buy-majority-of-areva-np-4635803