Prime Minister Theresa May has given construction of the Hinkley Point C nuclear power station the go-ahead, and has announced “significant new safeguards” for future foreign investment in infrastructure projects.
The £18bn project, which has attracted criticism in recent months over cost as well as potential national security worries, will now go ahead following a new agreement with French company EDF.
The new secretary of state for business, energy and industrial strategy, Greg Clark, said: “Having thoroughly reviewed the proposal for Hinkley Point C, we will introduce a series of measures to enhance security and will ensure Hinkley cannot change hands without the government’s agreement. Consequently, we have decided to proceed with the first new nuclear power station for a generation.”
The government has also guaranteed the price of £92.50 per megawatt hour (Mwh) of electricity generated, to EDF.
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