French EDF’s main labour union said on Friday that the utility should delay the final investment decision on its 18 billion pound ($24 billion) project to build a nuclear plant in Hinkley Point in southern England after Britons voted to quit the European Union. The project is one of the largest French investment projects in Britain and a final investment decision has been repeatedly delayed since it was first announced in Oct. 2013. “Brexit brings another element of uncertainty which reinforces our position that the project should be delayed,” CGT energy and mining federation spokeswoman Marie-Claire Cailletaud said. CGT and EDF’s other unions have argued for months that the state-owned firm should delay its investment decision on the Hinkley Point nuclear reactor project until a similar reactor under construction in France is in operation and not before EDF has sufficiently strengthened is stretched balance sheet. “Let us wait until the industrial, social, financial and political environment has stabilised so that this project can get under way in good conditions. This really adds a political element to the decision,” Cailletaud added.
Daily Mail 24th June 2016 read more »
“EDF confirms its commitment to the Hinkley Point project, which continues,” an EDF spokeswoman said on Friday. CEO Jean-Bernard Levy told reporters in France that the Brexit vote had no impact on the strategy of EDF and its UK subsidiary, according to a translation of his comments provided by EDF’s British unit EDF Energy.
Reuters 24th June 2016 read more »
The UK’s decision to leave the European Union will have no impact on EDF’s plans to build the Hinkley Point C nuclear plant, the company’s chairman has said. EDF chairman Jean-Bernard Levy said the company’s business strategy for the £18bn plant was not based on the UK’s membership of the EU and would therefore not change. The French energy giant is overseeing the delivery of the much-delayed Somerset project, which has so far failed to secure a final investment decision. Mr Levy said a devalued pound would not dent EDF’s ability to fund the project.
Construction News 24th June 2016 read more »
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