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Electricite de France SA Announces Agreement on Commercial Terms for Hinkley Point C Nuclear Power Station

Sunday, 20 Oct 2013 08:00pm EDT 

Electricite de France SA announced that it has reached agreement in principle with the UK government on the key commercial terms for an investment contract of the planned Hinkley Point C nuclear power station. The agreements are: the key commercial terms of an investment contract for Hinkley Point C; confirmation that the project will benefit from the Government's Infrastructure Guarantee under terms and conditions to be agreed upon; letters of Intent with equity partners; the four main contracts for engineering and construction, and terms for a Funded Decommissioning Program for Hinkley Point C. Agreement in principle on the scope of the UK Guarantees scheme and on the key terms of the investment Contract allows Electricite de France SA to move ahead to secure partners for the financing of the project. The share of equity is expected to be: Electricite de France SA 45-50%; Areva SA 10%; China General Nuclear Corporation (CGN) and China National Nuclear Corporation (CNNC) 30-40%. Discussions are also taking place with a shortlist of other interested parties who could take up to 15%. The total costs to first operation are expected to be close to GBP 16 billion, expressed in 2012 money. 

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