EDF to Build Two UK Nuclear Reactors for $26 Billion

EDF to Build Two UK Nuclear Reactors for $26 Billion

The plants will create 25,000 jobs.

PARIS -- French energy giant EDF said Monday it had won a deal worth 16 billion pounds (US$26 billion) to build two nuclear reactors in Britain.

"This deal means £16 billion of investment coming into the country and the creation of 25,000 jobs," said British Prime Minister David Cameron.

Two Chinese nuclear firms, CGNPC and CNNC, are expected to take a 30%-40% stake between them, the statement added.

French energy firm Areva will provide the two EPRs or European Pressurized Reactors, taking a 10% stake in the project.

If the deal is confirmed next year, the power station, in south-west England, will be up and running by 2023.

"Today we have a deal for the first nuclear power station in a generation to be built in Britain," added Cameron.

"This also marks the next generation of nuclear power in Britain, which has an important part to play in contributing to our future energy needs and our longer term security of supply."

The accord also agrees a guaranteed price for the energy produced by the two reactors, which had been a major sticking point in the negotiations between the firm and the government in London.

Copyright Agence France-Presse, 2013

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