French President Francois Hollande said utility EDF’s Hinkley Point project in Britain should go ahead, a few days after his energy minister and former partner cast doubts on the $26 billion (18 billion pounds) plan to build nuclear reactors. “I am in favour of this project going ahead,” Hollande told Europe 1 radio in a wide-ranging interview on Tuesday.
Reuters 17th May 2016 read more »
ENERGY giant EDF has hit back at speculation that the cost of the Hinkley C project is set to rise by £3 billion to £21 billion. Following a meeting earlier this month EDF and Chinese partners CGN had committed an extra £2.7 billion ‘if necessary’ in ‘extreme scenarios’ to the new nuclear power plant in Somerset, The Telegraph reported. However EDF have released a statement reiterating that this money is not expected to be used. “The cost of the project is £18bn in nominal terms. We have stated this in public many times and this has not changed,” an EDF spokesman said.
Somerset County Gazette 16th May 2016 read more »
Two controversial energy infrastructure megaprojects located on opposite sides of the world, one in Western Europe and the other in Southeast Asia, are linked in more subtle ways than the most obvious bond i.e. they share the same main project developer. Hinkley Point C (HPC) nuclear power station, proposed to be built in the English county of Somerset and the Nam Theun 2 (NT2) Hydropower Project in operation since 2010 in central Laos are both megaprojects awarded to the French state-owned power utility, Électricité de France (EDF) as the main developer and shareholder in the respective project consortia. Both projects are touted by their proponents as low-carbon energy alternatives to fossil fuel burning power plants that are designed to economically supply perceived unmet energy demands; both represent the biggest infrastructure projects the respective host nations have built at the time of construction; both projects have considerable externalities not being shouldered by the developers due to taxpayer subsidised risk guarantees; and both are mired in complex multi-stakeholder debates over their socio-economic and environmental sustainability credentials.
East by South-East 4th May 2016 read more »