EDF is considering the sale of a €3bn (£2.2bn) stake in its British nuclear business in a bid to raise cash for new Hinkley Point reactors. Possible buyers would be state-owned Chinese companies, who are already committed partners on the £18bn Somerset project. EDF could unveil details of a sell-off plan on 16 February, when it is scheduled to release annual financial figures and is expected to give a final investment decision on building Britain’s first new reactors for 20 years. The French daily, Les Echos, reported on Thursday that EDF may reduce its stake in the eight existing nuclear reactors it owns from 80% to (sic) 29% (Should say by 29% to 51%) by bringing in a new investor as part of a wider €6bn disposal programme. Industry sources told the Guardian that the possible sell off was only one of a number of different options that were under consideration as the group looked at financing Hinkley Point C and other projects. They said it was still likely EDF would give the go ahead to Hinkley next month even though it did not have all the financing in place. EDF is also said by Les Echos to be considering disposing of a half stake in the Constellation Energy nuclear group in the US, plus a similar option to ditch its 50% holding in power transmission business RTE.
Guardian 7th Jan 2016 read more »