EDF will take a 12.5% stake in Sizewell C nuclear power station
China General Nuclear Power previously had a 20% stake in Sizewell C but later pulled out, with the government becoming a shareholder alongside EDF.EDF's recent decision to take a smaller stake in Sizewell C is "consistent with their previously stated position", Downing Street said.The government has said the plant would tackle the climate crisis while generating enough energy to power the equivalent of six million homes.Energy Secretary Ed Miliband said the agreement was a "landmark moment" between the UK and France, as French President Emmanuel Macron began his state visit to the UK.
But Together Against Sizewell C chair Jenny Kirtley criticised EDF's stakeholder announcement."In what must be seen as a fantastic result for Macron and an extremely poor outcome for the UK, this has allowed the original Sizewell C promoter, EDF, to invest the bare minimum into the project, with the result [that] UK residents will be subsidising French industry and the French government for the next 75 years, during 15 years of construction and 60 years of operation."Stop Sizewell C, another campaign group, added that "such reliance on France for so lengthy and uncertain project delivery undermines UK energy security".The group added: "With much of the expensive 'kit' for Sizewell C being constructed in France, who does this project really benefit?"
Responding to the suggestion the decision was not a show of confidence in the UK, a No 10 spokesman said: "Obviously it's a commercial decision for EDF, but it's fully consistent with their previously stated commitment."Of course, we welcome their involvement. We've always known that EDF was looking to take a minority stake in Sizewell's construction, alongside its other important roles in the project."We're in the closing stages of negotiations with other investors [who] will also bring significant experience to Sizewell C."
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