Part­ner EDF says UK project will cost ex­tra $1.9 bil­lion, face 15-month de­lay

China Daily (Hong Kong) - - BUSINESS - By ZHENG XIN zhengxin@chi­

China Gen­eral Nu­clear Power Corp, French en­ergy group EDF’s part­ner in Bri­tain’s Hink­ley Point nu­clear power project, said it is too early to jump to con­clu­sions about any pos­si­ble de­lays or cost over­runs.

In re­sponse to EDF’s claim that the project’s costs had risen by 1.5 bil­lion pounds ($1.9 bil­lion) and that it faced a 15-month de­lay, CGN, China’s largest nu­clear oper­a­tor, said the project is at the early stage of con­struc­tion.

Based on the com­pany’s pre­vi­ous engi­neer­ing con­struc­tion ex­pe­ri­ence, it is too early to say whether the project will cost more money or take more time, the com­pany told China Daily on Thurs­day.

As a part­ner, CGN said it has al­ways sup­ported EDF in cost and con­struc­tion pe­riod re­duc­tion, while pro­mot­ing the project with its ad­van­tages in nu­clear power projects con­struc­tion.

EDF said on Mon­day that Hink­ley Point could cost an ex­tra 1.5 bil­lion pounds, with an es­ti­mated cost up to 19.6 bil­lion pounds fol­low­ing an in­ter­nal re­view, and the project could be de­layed by up to 15 months, a move that would push the com­ple­tion date long past 2025.

How­ever, CGN said de­spite the high cost of the Hink­ley project, rea­son­able re­turns are ex­pected, pro­vid­ing eco­nomic guar­an­tee to its fu­ture op­er­a­tion and in­vestors’ re­coup­ing their cap­i­tal costs.

Vin­cent de Ri­vaz, out­go­ing head of EDF En­ergy, also said that the new es­ti­mates and po­ten­tial de­lay will have “no im­pact” on the Hink­ley Point con­tract signed be­tween the com­pany and the UK govern­ment, ac­cord­ing to Fi­nan­cial Times.

The UK is an ideal in­vest­ment des­ti­na­tion with its sound reg­u­la­tion, mar­ket mech­a­nism and power de­mand, said CGN. “Con­sid­er­ing its plan to sus­pend ther­mal power be­tween 2025 and 2030 and re­place it with clean

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.