Chinese to Invest in British Nuclear Power
From The New York Times
By Stephen CAastle and Chris Buckley
Britain said on Thursday that it would allow Chinese firms to buy stakes in British nuclear power plants and eventually acquire majority holdings.
The agreement, which comes with caveats, opens the way for China’s fast-growing nuclear industry to play a significant role in Britain’s plans to proceed with construction of its first new reactor in nearly two decades.
George Osborne, chancellor of the Exchequer, made the announcement on Thursday while visiting a nuclear power station in southern China.
The project fits into Britain’s overall plan to deliver at least 12 new nuclear reactors at five sites by 2030. It contradicts countries like Germany and Japan that have pulled back from nuclear power since the Fukushima nuclear disaster in Japan in 2011. Britain has nine aging nuclear plants.
Under an agreement signed by the two countries, British companies like Rolls-Royce and International Nuclear Services could also win a bigger role in China’s nuclear power expansion, according to an e-mail from the British Embassy in Beijing that summarized Mr. Osborne’s statement.
China is already moving ahead with its own ambitious plan to build dozens of domestic nuclear power stations in coming years. China has 17 reactors now.
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