Hinkley Point C: the Chinese visit, the Austrian challenge & the German experience, by Tim Malloch
The official announcement made by David Cameron and Xi Jinping, the Chinese President, on 21 October 2015 regarding Hinkley Point C:
- welcomed the signing of a commercial strategic investment agreement that set out the key terms of the Chinese companies' cooperation with EDF for nuclear build projects in the UK, including a 33.5% stake in Hinkley Point C;
- noted that the contract for difference, the agreement that will provide EDF with a guaranteed strike price for the electricity that Hinkley Point C generates, and the Secretary of State Investor Agreement relating to Hinkley Point C were now in final form; and
- stated that the expectation was that in 2016, after the full form documents for Hinkley Point C have been signed, a Chinese reactor design to be used for further nuclear projects will be submitted to the UK's nuclear regulators for assessment.
The financial community's response to this news has not been enthusiastic. Investec published a sell note stating that it had long-term concerns
