At a Beijing-based conference the chief executive of EDF China Song Xudan confirmed that the investment deal would be signed with China General Nuclear Power (CGNP) and China National Nuclear Corp (CNNC) at the end of the first quarter, according to a report from Bloomberg.
The agreement would pave the pay for construction of the first UK new nuclear power plant in a decade to begin by start of 2016.
“EDF Energy chief executive Vincent de Rivaz had said last week that construction of Hinkley Point C should begin early next year. Legal and other work needs to be completed before an FID can be given and he was confident that a decision would be made by this March at the latest,” said analysts at RBC Capital.
“The search for a partner in the Hinkley Point new nuclear project has always been known, as the company seeks to share both the risks and reward of construction and operation with its Chinese partners. Whilst this means the news shouldn’t come as a surprise, this is positive progress for EDF’s nuclear ambitions,” the analysts added.