China's cash for UK Nuclear Plants is in Doubt

Posted: 31st August 2021

A serious stumbling block now threatens the prospect of China’s cash for
UK nuclear plants materialising − and also the likelihood of a successful
outcome to COP26, the global climate conference which the British
government is due to host later this year. In order to finance the
construction of nuclear stations that are supposed to generate up to 20 per
cent of the UK’s electricity, the British government needs Chinese money.
Without it, the already prohibitively expensive projects may become
completely unaffordable. Neither the deeply indebted French
government-owned company EDF, which is building two stations, each with
twin reactors, nor the UK government is prepared to underwrite the entire
cost of the projects. This is because of the huge sums required − around
£45 billion (US$62bn). However, the UK government faces severe political
pressure to end Chinese involvement, because of the perceived threat of
ceding control over vital services such as the electricity supply.

 Eco Business 17th Aug 2021

 https://www.eco-business.com/news/chinas-cash-for-uk-nuclear-plants-is-in-doubt/