The UK government has given the go-ahead to a multi-billion-pound new nuclear power station.
Business Secretary Kwasi Kwarteng said on July 20 that development consent was granted for the Sizewell C project in Suffolk, which is expected to generate enough electricity to supply 6 million homes.
Negotiations with the government on raising funds for the project are continuing and a Financial Investment Decision is expected in 2023.
The project, which is expected to cost £20 billion ($24 billion), will be mainly funded by the French energy company EDF, but the Chinese state-owned China General Nuclear Power Group (CGN) also has a 20 percent stake.
Chinese Investment
China’s involvement in nuclear power in the UK dates back to an agreement endorsed by then-Prime Minister David Cameron and Chinese leader Xi Jinping in 2015. The UK government’s appetite for Chinese investment in infrastructure has since soured….