An agreement between EDF and its Chinese partner China General Nuclear Corporation (CGN) will create a infrastructure “fit for the 21st century” according to the UK Energy secretary.
Conservative politician Amber Rudd said the government was tackling a legacy of under-investment in the UK.
The deal was signed amid a landmark visit from Chinese President Xi Jinping where he has met with both politicians and dignitaries.
Energy Secretary Amber Rudd said:“We are tackling a legacy of under-investment and building energy infrastructure fit for the 21st century as part of our plan to provide the clean, affordable and secure energy that hardworking families and businesses across the country can rely on now and in the future.
“The UK is open for business and this is a good deal for everyone – Hinkley Point C will continue to meet our robust safety regulations and will power nearly six million households with low-carbon energy, creating over 25,000 jobs and more financial security for working people and their families.”
EDF has confirmed it will take a 66.5% percent stake in Hinkley while CGN will take a 33.5% share.
Hinkley Point C is expected to provide low carbon electricity to six million homes, twice as many as the whole of London, for around 60 years.
EDF Energy chief executive Vincent de Rivaz said:“Hinkley Point C and successive nuclear projects will guarantee the UK the reliable, secure low carbon electricity it needs in the future. Nuclear power will save customers money compared with other energy options and provide a huge boost to British industrial strength, jobs and skills both in Britain and abroad.
“Today’s announcements are also good news in the fight against climate change.”
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