South West business leaders have hailed the government’s approval of the £18bn Hinkley Point C project and its potential impact on the region, including the possible injection of £100bn into the local economy and creation of 25,000 jobs.
Following a review of the project, the go-ahead has been given, subject to the introduction of a new legal framework.
This will enable the UK government to prevent the sale of EDF’s controlling stake prior to the completion of construction, without the prior notification and agreement of ministers.
When complete, Hinkley Point C is expected to meet about 7 per cent of the UK’s energy requirements. The total cost of the power station is expected to be £18bn.
The project is expected to create 25,000 job opportunities and 1,000 apprenticeships as well as an injection of £100m a year into the regional economy.
The news was welcomed by the Bridgwater Chamber of Commerce, weNuclear South West (NSW) consortium, a partnership between the nuclear industry network in the South West; the Heart of the South West, West of England and GFirst local enterprise partnerships (LEPs); the academic and skills sector and the business support agencies.