黑洞社区

Chinese investors behind EDF鈥檚 拢18bn Hinkley Point C nuclear plant in Somerset are ramping up their involvement in the beleaguered project and pushing for Chinese staff and materials to be deployed on the job, 黑洞社区 understands.

The long-delayed plant is part-funded by China General Nuclear, which is reported to have a 33.5% stake in Hinkley, while its compatriot Chinese National Nuclear Corporation is in talks to take a stake in the project.

A source close to the project told 黑洞社区 these Chinese investors want more involvement in the project than just putting money into it and are looking to get Chinese workers and materials on board.

The source said: 鈥淸The Chinese] are keen to have a wider impact than just financing. They鈥檙e looking at getting Chinese project managers on it and so on, to progress the project quicker.鈥�

Developer EDF has encouraged Hinkley contractors to buy Chinese equipment and components, the source said.

The news came as a new assessment by the UK government emerged estimating that the total lifetime cost of the nucler plant could be as high as 拢37bn. The same energy department鈥檚 estimate a year ago had been 拢14bn.

The Chinese are keen to back Hinkley despite last month鈥檚 Brexit vote, as they are determined to demonstrate an 鈥渦nderstanding of the Western nuclear market and regulation鈥� as part of their global expansion push, 黑洞社区鈥檚 source said.

There has been little demand for Chinese products at the moment among the civil engineering contractors currently on site, the source said, but more interest is expected when M&E contracts are awarded as Chinese components for that kind of work tend to be cheaper.

In response, an EDF spokesperson said: 鈥淚t is now estimated that contracts worth more than 60% of the construction cost for Hinkley Point C will be placed with UK firms.鈥�

Market sources close to the project also told 黑洞社区 that EDF sent a letter to contractors after the EU referendum result insisting Brexit would not affect the project and that plans would progress as normal.

EDF has informed contractors a final investment decision on Hinkley is still expected to be made in early September.

The EDF spokesperson said: 鈥淓DF confirms its commitment to the Hinkley Point project, which continues [after Brexit].鈥�