Britain's debt to foreign power: China's nuclear revolution

Discussion in 'Europe and Russia' started by amoy, Oct 19, 2013.

  1. amoy

    amoy Senior Member Senior Member

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    Britain's debt to foreign power: China's nuclear revolution - Telegraph

    George Osborne has effectively handed the nation's nuclear industry over to Chinese and French giants
     
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  3. dhananjay1

    dhananjay1 Regular Member

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    Well, they have handed the country's defense and foreign policy to Americans, why would they even care about nuclear energy. :rofl:
     
  4. amoy

    amoy Senior Member Senior Member

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    UK guarantees £2bn nuclear plant deal as China investment announced
    [​IMG]
    Image copyright EDF Energy
    Image caption EDF wants to build a new nuclear power station at Hinkley Point

    Chancellor George Osborne has announced that the UK will guarantee a £2bn deal under which China will invest in the Hinkley Point nuclear power station.

    Mr Osborne, who is in China, said the deal would pave the way for a final investment decision on the delayed project by French energy company EDF.

    He said it would also enable greater collaboration between Britain and China on the construction of nuclear plants.

    Reports suggest one such reactor could be built at Bradwell-on-Sea in Essex.

    Energy Secretary Amber Rudd told the Financial Times she wanted Beijing to take the lead in developing new nuclear plants in Britain.

    She said China was expected to lead the construction of a Beijing-designed nuclear station at the Essex site.
     
  5. amoy

    amoy Senior Member Senior Member

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    Chinese, French firms sign agreement on British nuclear power project

    LONDON, Oct. 21 (Xinhua) -- Chinese and French companies signed an agreement Wednesday to build a British nuclear power plant at Hinkley Point in southwestern England.

    In the presence of Chinese President Xi Jinping and British Prime Minister David Cameron, China General Nuclear Power Corp. (CGN) and Electricite de France (EDF) signed a strategic investment agreement.

    According to the agreement, the CGN-led Chinese consortium takes a 33.5 percent stake and EDF takes 66.5 percent in the Hinkley Point C nuclear power project.

    Cameron described the deal as "historic" as the project would provide reliable, affordable energy to nearly 6 million homes and create more than 25,000 jobs.

    He Yu, chairman of CGN, told Xinhua that the deal would promote the exportation of Chinese nuclear facilities to high-end markets in Europe and provide opportunities for Chinese companies to get fully involved in the development of Britain's nuclear power industry.

    He attributed the company's participation in the project to the increasingly close economic and trade ties between the two countries.

    "As political mutual trust and economic partnership develop, I believe more breakthroughs will be seen in cooperation in the nuclear power industry of the two countries," he said.

    The Chinese investment will step up the construction of the project and strongly help Britain in developing clean energy and ensuring energy supply, he added.

    The power station, with two reactors, will have a total capacity of 3.3 GW, which is expected to be the largest output by a single plant in Britain.

    CGN's talents, technology and industry chain will promote the industrial development, create jobs and enhance personnel training for the British side, he said.

    Prof. David Elmes with Britain's Warwick Business School said that the project is supposed to prompt a new wave of Chinese investment in British energy infrastructure, noting that it is the first project in the British government's plans for a series of new nuclear power stations.
     
  6. amoy

    amoy Senior Member Senior Member

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    The trilateral UK-France-China deal is quite an inspiration. Now Romania is also opting for Chinese investment to build and operate nuclear power plants.

    Chinese company to hold 51 per cent of the joint-stock company to build Units 3 and 4 of Cernavoda nuclear plant

    Romania's state-owned Nuclearelectrica Company (SNN) will contribute two million euros to get 49 percent of the joint-stock company (JVCo) that will build Units 3 and 4 of the nuclear power plant in Cernavoda; China General Nuclear Power Corporation (CGN) will have 51pct, according to a Memorandum of Understanding on the development, building, operation and decommissioning these units.

    http://www.thediplomat.ro/articol.php?id=6516


    ~~Still waters run deep. ~~from my MiPad using tapatalk
     
  7. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    Great strategic move by China. Make UK dependent on China for energy security,
     
  8. amoy

    amoy Senior Member Senior Member

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    dependent?

    French EDF takes 66.5% share in Hinkley Point C.

    Business is business.

    ~Tapa talks: Orange is the new black.~
     
  9. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    So then Chinese are just hyping the news of riding french coattails?
     
  10. amoy

    amoy Senior Member Senior Member

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    hyping?

    let's call a spade spade. everything has a beginning. there certainly will be more to follow if u did read the above news. now Romania also signed but with Chinese holding a majority stake.

    ~Tapa talks: Orange is the new black.~
     
  11. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    Strange for a NATO nation to be involving communist in a strategic project.
     
  12. amoy

    amoy Senior Member Senior Member

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    no one shall be cocooned into outdated ideologies. both French and Russians are building nuclear plants in China. NATO and semi NATO countries like Greece and Israel have given Chinese their srrategic ports for operations. McDonald probably makes more earnings from China than the whole Europe added up.

    everything is reciprocal and everyone's interests interwined.

    ~Tapa talks: Orange is the new black.~
     
  13. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    Still does not indicate a change in NATO policy that welcomes communists in strategic projects.
    Big difference in mcdonalds and strategic assets. Any link China has more sales than all of Europe ?


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  14. tarunraju

    tarunraju Moderator Moderator

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    Because people are bored of McDonalds. They only go there if they're broke.
     

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