PARIS Jan 19 The sheer scale of EDF's 18
billion pound ($25.55 bln) project to build two nuclear reactors
in Hinkley Point, Britain puts the French utility at risk, the
CFE-CGC managers union warned on Tuesday.
The moderate union questioned the interest in building two
next-generation reactors over nine years while two other EPR
reactors under construction in Finland and western France have
been plagued with problems and delays.
It urged EDF to say what assets would have to be sold to
finance the British project and what the potential impact of
going ahead with it may be on its credit rating.
In October, EDF, 85 percent-owned by the French state,
announced a partnership with Chinese utility CGN to build
Hinkley Point, but the two companies have not yet made the final
investment decision to go ahead.
EDF reluctantly agreed to finance the project on its already
stretched balance sheet after other partners pulled out, and
ratings agency Standard & Poor's has warned it might downgrade
EDF if it goes ahead.
EDF's board is due to take a decision on whether to go ahead
with the investment on Jan. 27, a source familiar with the
matter told Reuters.
A spokesman for the group declined to comment.
In November, an association of employee-shareholders warned
that the project was so expensive and risky as to put the
group's survival at risk.
($1 = 0.7046 pounds)
(Reporting by Benjamin Mallet; writing by Leigh Thomas; Editing
by Susan Fenton)