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Hinkley Point funding could be delayed

Wednesday 27th January, 2016

The Hinkley Point C nuclear power station could be delayed amid reports that EDF has postponed a final decision on funding.

It is understood that the French energy company was set to hold a meeting today (27 January 2016) to finalise its funding for the project, but this has now been postponed.

French newspaper Les Echos is reporting that the decision has been delayed due to difficulties financing the company’s share of the project.

According to Greenpeace, trade union CFE-CGC, which has seats on the EDF board, has also raised concerns over whether the company can afford the power plant.

A spokesman for EDF said that no date had been set for a final funding decision.

EDF chairman Jean Bernard Levy has previously confirmed that the project is ready for final investment decision, with the business set to invest £16bn for a two-thirds stake.

In October 2015 EDF signed an agreement with Chinese investors to provide about a third of the funding for the £24.5bn development, in exchange for a one-third stake.

Following this deal, EDF was expected to confirm its own share of funding. The company also aimed to secure additional investors for the project.

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