Hinkley Point C contract signed
30 Sep 2016 02:20 PM
The Government and EDF have yesterday signed a historic agreement for the UK’s first new nuclear power station for a generation.
During a signing ceremony in London, the Secretary of State for Business, Energy and Industrial Strategy, Greg Clark, the Chairman and CEO of EDF, Jean-Bernard Levy and the Chairman of CGN, He Yu signed the final documentation to enable Hinkley Point C to go-ahead.
This follows the Government’s decision to proceed with the project following a comprehensive review and revised agreement with EDF.
The signing of the Contract for Difference and Secretary of State Investor Agreement for Hinkley Point C marks a significant step forward for a new era of nuclear power in the UK.
Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, said:
Signing the Contract for Difference for Hinkley Point C is a crucial moment in the UK’s first new nuclear power station for a generation and follows new measures put in place by Government to strengthen security and ownership.
Britain needs to upgrade its supplies of energy, and we have always been clear that nuclear power stations like Hinkley play an important part in ensuring our future low-carbon energy security.
The event was also attended by Jean-Marc Ayrault, the French Minister of Foreign Affairs and International Development and Minister Nur Bekri, the Administrator of the National Energy Administration of China.
Hinkley will provide seven per cent of Britain’s electricity needs for sixty years. UK-based businesses will benefit from more than 60% of the £18 billion value of the project and 26,000 jobs and apprenticeships will be created.
The Hinkley Point C contractual documents are available.