Hollande renews support for EDF nuclear project in Britain

President Francois Hollande renewed his support on Tuesday for the controversial nuclear project planned by France’s energy giant EDF at Hinkley Point in Britain, reports AFP.
“I am in favour that this project goes ahead,” Hollande told Europe 1 radio.
“It’s very important to understand that we need a high-performance, highly secure nuclear industry in France, and that we cannot let others take over terrain, including on exports, that has been French up to now,” he said.
A final decision on the plan to build two new-generation nuclear reactors at Hinkley Point in southwest England was due this month, but was delayed after unions at EDF demanded a review into the cost.
A joint project between EDF and China General Nuclear Power Corporation, it carries a projected price tag of £18 billion ($26 billion, 23 billion euros) that will make it one of the world’s most expensive nuclear power plants.
Unions at EDF, which is 85 percent state-owned, fear it could bankrupt the company, which is already saddled with more than 37 billion euros in debt. Last month, management agreed to consult the internal committee which has brought in outside experts to review the financial implications of the project.

 

Hollande renews support for EDF nuclear project in Britain

President Francois Hollande renewed his support on Tuesday for the controversial nuclear project planned by Frances energy giant EDF at Hinkley Point in Britain, reports AFP. I am in favour that this project goes ahead, Hollande told Europe 1 radio. Its very important to understand that we need a high-performance, highly secure nuclear industry in France, and that we cannot let others take over terrain, including on exports, that has been French up to now, he said. A final decision on the plan to build two new-generation nuclear reactors at Hinkley Point in southwest England was due this month, but was delayed after unions at EDF demanded a review into the cost. A joint project between EDF and China General Nuclear Power Corporation, it carries a projected price tag of 18 billion ($26 billion, 23 billion euros) that will make it one of the worlds most expensive nuclear power plants. Unions at EDF, which is 85 percent state-owned, fear it could bankrupt the company, which is already saddled with more than 37 billion euros in debt. Last month, management agreed to consult the internal committee which has brought in outside experts to review the financial implications of the project.